SMM Shanghai and other #1 lead markets: Downstream enterprises purchase lead as needed, with spot lead transactions showing mixed results [SMM Midday Review]

        SMM News on June 5: In the Shanghai market, Chihong and Honglu lead were quoted at 16,675-16,725 yuan/mt, with quotations against the SHFE lead 2506/2507 contracts at discounts of 20-0 yuan/mt. The center of SHFE lead prices gradually moved higher, and suppliers actively quoted prices to sell. The Jiangsu, Zhejiang, Shanghai market still quoted at small discounts. Among them, the quotations for cargoes self-picked up from primary lead smelters in major producing areas were at discounts of 60 yuan/mt to premiums of 100 yuan/mt against the SMM 1# lead average price ex-factory. Quotations in the North China market were slightly divergent, with some discounts widening and others maintaining yesterday's transaction levels. Secondary lead smelters refused to budge on prices when selling, with spot order quotations at premiums of 0-100 yuan/mt against the SMM 1# lead price ex-factory. As lead prices rose, the market trading atmosphere improved slightly. Downstream enterprises made purchases as needed, with some focusing on long-term contract procurement. Market transaction results were mixed.

        Other markets: Today, the SMM 1# lead price increased by 75 yuan/mt compared to the previous trading day. In Henan, suppliers quoted prices at discounts of 200-160 yuan/mt against the SHFE lead 2507 contract ex-factory. In Hunan, smelters quoted prices at discounts of 50-40 yuan/mt against the SMM 1# lead average price ex-factory, while traders quoted prices at discounts of 60-30 yuan/mt against the SMM 1# lead average price ex-factory. In Jiangxi, suppliers quoted prices at premiums of 100-150 yuan/mt against the SMM 1# lead average price ex-factory, with limited inventory and some pre-sales. During the day, SHFE lead prices continued to rise, with the prices of secondary refined lead and primary lead in many regions remaining inverted. Downstream enterprises preferred primary lead for just-in-time procurement, and spot market transactions improved slightly.