[SMM Morning Lead Meeting Summary: Social Inventory of Lead Ingots May Still Have Room to Rise; Focus on Production at Smelters Next Week]...This week, the production of primary lead smelters remained stable with a slight increase, while secondary lead enterprises were generally in a state of production reduction or suspension due to factors such as environmental protection, losses, and insufficient scrap supply, leading to a regional tightening of lead ingot supply. With few sellers from secondary lead enterprises and firm prices, lead consumption shifted towards the primary lead market. However, as the lead consumer market is still in the off-season, the improvement in transactions in the spot lead market has been limited...

[SMM Analysis: Lead Ingot Inventory Buildup as Expected Before Delivery, Follow-Up Focus on Production Trends of Secondary Lead Enterprises] SMM News, June 12: According to SMM, as of June 12, the total social inventory of lead ingots across five locations tracked by SMM reached 54,700 mt, an increase of approximately 800 mt from June 5 and an increase of 1,300 mt from June 9.

[SMM Social Inventory of Lead Ingots: Inventory Buildup of Lead Ingots as Expected Before Delivery, Follow-Up Focus on Production Trends of Secondary Lead Enterprises] This week, the production of primary lead smelters remained stable with a slight increase, while secondary lead enterprises were generally in a state of production reduction or suspension due to factors such as environmental protection, losses, and insufficient scrap supply. The regional tightening of lead ingot supply led to a shift in lead consumption towards the primary lead market.....

[SMM Shanghai and Other 1# Lead Markets: Lead Smelters Generally Ship at Premiums, Regional Disparities in Spot Cargo Transactions Persist] SMM June 12 News: In the Shanghai market, Chihong and Honglu lead were priced at 16,850-16,950 yuan/mt, quoted at a contango of 50-0 yuan/mt against the SHFE lead 2507 contract. SHFE lead prices fluctuated upward, with suppliers quoting prices in line with market conditions and maintaining contango quotes...

[SMM Lead Morning Meeting Summary: Lead Ingot Supply Side Expected to Tighten Further, Monitor Price Changes of Mainstream Brand Lead-acid Batteries]...On the supply side, there are currently no signs of further expansion in the production cuts and suspensions by secondary lead smelters. Attention should be paid to the impact of maintenance work on primary lead for delivery brands in the middle and late of the month on supply and lead prices. On the consumption side, mainstream lead-acid battery brands have recently announced plans to raise prices, while other lead-acid battery producers are adopting a wait-and-see attitude. If the market accepts the price hikes by mainstream brands, there is a possibility of a slight price increase in tandem...

[SMM Shanghai and Other 1# Lead Markets: Production Cuts in Secondary Lead Force Demand Toward Primary Lead, Regional Improvement in Spot Market Transactions] SMM June 11 Report: In the Shanghai market, Chihong and Honglu lead are priced at 16,800-16,850 yuan/mt, with quotes at a discount of 50-0 yuan/mt against the SHFE lead 2507 contract. SHFE lead remains consolidating at a high level, and with delivery approaching, some suppliers are waiting for delivery, with quotes at discounts unchanged from yesterday. However, there are differences in transactions for cargoes self-picked up from primary lead smelters...