[SMM Analysis: Primary Lead Maintenance Increases, Social Inventory of Lead Ingots Continues to Decline Slightly] SMM News on June 23: According to SMM, as of June 23, the total social inventory of lead ingots in five regions tracked by SMM reached 55,700 mt, a decrease of approximately 700 mt from June 16 and a decrease of over 300 mt from June 19.

[SMM Social Inventory of Lead Ingots: Primary Lead Maintenance Increases, Social Inventory of Lead Ingots Continues to Decline Slightly] Recently, lead prices have held up well, and downstream enterprises have shown moderate enthusiasm for procurement. Additionally, as the month-end approaches, some downstream enterprises have begun to wait for new long-term contracts in the next month, limiting their purchases of spot orders. Meanwhile, secondary lead enterprises are generally in a state of production reduction or suspension...

On Friday evening, LME copper opened at $9,628.5/mt, surging to a high of $9,700/mt in the early session, then fluctuating downward, hitting a low of $9,621.5/mt during the session, and experiencing a slight correction towards the end, ultimately closing at $9,660.5/mt, up 0.43%.

[SMM Morning Lead Meeting Summary: Lead Market Fundamentals Improved in Late June, Lead Prices Continue to Fluctuate at Highs] Fundamentals side, the supply of primary lead remained relatively stable. However, in terms of secondary refined lead, the increase in scrap battery prices outpaced that of by-product earnings. As a result, more secondary refined lead enterprises reduced production due to cost and profit considerations, providing a floor for lead prices...

The SMM Imported Zinc Concentrate Index for this week is $55.27/dmt, with a 4.28% WoW increase. The SMM Imported Lead Concentrate average spot TC for this week is $-55/dmt, with a drop of $10/dmt .