SMM Shanghai and Other No.1 Lead Markets: SHFE Lead Reaches 17,000 Yuan/ton Threshold, While Spot Market Transactions Weaken [SMM Midday Review]

        SMM June 13 News: In the Shanghai market, Chihong and Honglu lead were quoted at 16,930-16,980 yuan/mt, with quotations at discounts of 50-0 yuan/mt against the SHFE lead 2507 contract. In the morning, SHFE lead surged strongly and once broke through the 17,000 yuan/mt mark. Suppliers sold goods in line with the market, and as the delivery date approached, some suppliers waited for delivery, with the discount quotations unchanged from yesterday. In addition, the quotations for cargoes self-picked up from primary lead smelters remained firm. In particular, in South China, the quotations were generally at premiums of 50-60 yuan/mt against the SMM 1# lead average price ex-factory. Secondary lead smelters actively quoted and sold goods, with secondary refined lead quotations at premiums of 0-25 yuan/mt against the SMM 1# lead average price ex-factory, and a few regions had discounts of 75 yuan/mt. Meanwhile, as lead prices rose, downstream enterprises showed strong wait-and-see sentiment, with fewer inquiries and sluggish spot order market transactions.

        Other markets: Today, the SMM 1# lead price increased by 75 yuan/mt from the previous trading day. In Henan, suppliers' quotations were at discounts of 200-150 yuan/mt against the SHFE lead 2507 contract ex-factory. In Hunan, smelters' quotations were at premiums of 50-60 yuan/mt against the SMM 1# lead average price ex-factory, and traders' quotations were at discounts of 210-150 yuan/mt against the SHFE lead 2507 contract. In Jiangxi, smelters' quotations were at premiums of 100-130 yuan/mt against the SMM 1# lead average price ex-factory. During the day, SHFE lead continued to hold up well. Downstream enterprises maintained just-in-time procurement. Meanwhile, as the delivery date approached, some suppliers transferred goods to delivery warehouses, and market transactions were slightly sluggish.