SMM Shanghai and other 1# lead markets: The center of lead price movement shifts downward, downstream enterprises purchase as needed [SMM Midday Review]

        SMM, May 27: In the Shanghai market, Chihong and Honglu lead were quoted at 16,760-16,785 yuan/mt, with quotations at discounts of 10-0 yuan/mt against the SHFE lead 2506 contract. In Jiangsu and Zhejiang, JCC lead was quoted at 16,760-16,785 yuan/mt, with quotations at discounts of 10-0 yuan/mt against the 2506 contract. The center of SHFE lead prices moved slightly lower, and there were no significant changes in the discounts of suppliers' quotations. Among them, the quotations for primary lead cargoes self-picked up from production sites in major producing areas were at discounts of 40 yuan/mt to premiums of 125 yuan/mt against the SMM 1# lead average price ex-factory. The reluctance to sell at low prices among secondary lead smelters increased, with fewer quotations. Some spot order quotations were at discounts of 75-0 yuan/mt against the SMM 1# lead price ex-factory, and some were at premiums of 50-75 yuan/mt. Downstream enterprises purchased on a need-basis and bought the dip, with some focusing on long-term contract purchases, and limited cargo pick-up for spot orders.

        Other markets: Today, the SMM 1# lead price fell by 50 yuan/mt from the previous trading day. In Henan, suppliers' quotations were at discounts of 25-0 yuan/mt against the SMM 1# lead price, or at discounts of 150-140 yuan/mt against the SHFE lead 2506/2507 contracts ex-factory. In Hunan, smelters' quotations were at discounts of 30-20 yuan/mt against the SMM 1# lead average price ex-factory, and suppliers' quotations were at discounts of 40-30 yuan/mt against the SMM 1# lead average price ex-factory. In the Guangdong market, suppliers' quotations were at premiums of 50-75 yuan/mt against the SMM 1# lead price. Today, lead prices weakened slightly, and spot transactions improved slightly in some regions. However, downstream enterprises mainly focused on just-in-time needs, and overall transaction activity was moderate.