[SMM Lead Morning Meeting Summary: Spot Order Market Transactions Remain Sluggish, Lead Prices May Maintain Fluctuating Trend]...SHFE lead continued its fluctuating trend, with suppliers shipping goods according to market conditions. The discounts for some warrant cargo quotations widened compared to last Friday, while the discounts for cargoes self-picked up from production site narrowed. Primary lead quotations in major producing areas were at premiums of 0-125 yuan/mt against the SMM 1# lead average price. Additionally, there were more production cuts at secondary lead smelters, and market quotations were scattered...

[SMM Analysis: Environmental Protection-Driven Production Cuts in Inner Mongolia and Anhui Lead to a Decline in Social Inventory of Lead Ingots] SMM News on June 9: According to SMM, as of June 9, the total social inventory of lead ingots across five regions tracked by SMM reached 53,400 mt, an increase of 3,500 mt from June 3; [the inventory] was over 500 mt higher than that on June 5.

[SMM Social Inventory of Lead Ingots: Environmental Protection-Driven Production Cuts in Inner Mongolia and Anhui Lead to Decline in Social Inventory of Lead Ingots] Recently, lead prices have shown a trend of rebounding after hitting a low, with suppliers actively selling off their stocks. In some regions, the discount for primary lead quotes has widened to a discount of 230-180 yuan/mt against the SHFE lead 2507 contract ex-factory...

[SMM Shanghai and Other 1# Lead Markets: Suppliers Offer Both Wider and Narrower Contango, While Spot Lead Transactions Fall Short of Last Week] SMM June 9 Report: In the Shanghai market, Chihong Zn&Ge and Honglu lead are priced at 16,675-16,740 yuan/mt, quoted at a contango of 50-0 yuan/mt against the SHFE lead 2507 contract. SHFE lead continues to fluctuate, with suppliers selling in line with market conditions. The contango for some warrant cargoes has widened compared to last Friday, while the contango for cargoes self-picked up from production sites has narrowed...

[SMM Lead Midday Review: Market Quotation Sentiment Low, Poor Spot Order Transactions for Secondary Refined Lead] SMM reported on June 9: Today, the SMM 1# lead average price rose by 25 yuan/mt from the level before the holiday to 16,525 yuan/mt. The overall market quotation sentiment was low. The ex-factory prices of mainstream secondary refined lead were mainly on par with the SMM 1# lead average price, and the price difference between primary metal and scrap was 0 yuan/mt.

[SMM Lead Morning Meeting Summary: As the Delivery Date Approaches This Week, Spot Discounts for Lead Ingots May Narrow]...Under the dual influence of lead ingots being transferred to delivery warehouses and downstream purchases, the in-plant inventory of primary lead smelters has decreased. As the delivery date approaches this week, it is expected that suppliers will increase the transfer of stocks to delivery warehouses. After the transfer, the available supply in the spot market will relatively decrease, and there is an expectation that spot discounts will narrow. Regarding secondary lead, the issue of losses remains the primary concern. Production cuts by secondary lead smelters have increased, and the supply gap for scrap batteries may slightly improve. It is expected that transactions involving secondary refined lead at a premium will decrease...

The end-use consumption of lead-acid batteries is the lifeblood of the entire lead industry chain. Currently, weak downstream consumption has led to a low replacement rate of new and old batteries and a small volume of scrap batteries in the market. According to waste lead-acid battery recyclers, the collection volume at storefronts is low, and there is a strong reluctance to sell, resulting in increasing pressure on procurement recently. Some recyclers have even stated that their daily turnover is less than 50% of previous years. Tight supply of raw materials has constrained the production of smelters.