[SMM Shanghai and Other 1# Lead Markets: Lead Prices Rebound with Increasing Regional Disparities in Spot Cargo Transactions] SMM News on July 9: In the Shanghai market, Chihong and Honglu lead were priced at 17,165-17,205 yuan/mt, quoted at a discount of 60-20 yuan/mt against the SHFE lead 2508 contract. In the Jiangsu-Zhejiang market, Jijin and JCC lead were priced at 17,185-17,205 yuan/mt, quoted at a discount of 40-20 yuan/mt against the SHFE lead 2508 contract. SHFE lead prices stopped falling and rebounded, with suppliers actively expanding discounts to sell spot cargo...

[SMM Morning Lead News: The impact of tariff policies continues to ferment, with lead prices rebounding after falling] SMM reported on July 9: Overnight, the most-traded SHFE lead 2508 contract opened at 17,190 yuan/mt. As the impact of tariffs weakened, traders' focus returned to fundamentals, with expectations for traditional consumption still remaining...

[SMM Morning Lead Meeting Summary: Macro Weakening Returns to Fundamentals, Lead Prices Fluctuate at Highs] US President Trump said that reciprocal tariffs would be implemented starting August 1 and would not be postponed again, warning that a taxation letter to the EU was imminent. Recently, the impact of US tariffs has continued to ferment, with market attention shifting from global concerns about economic downturn to changes in specific metal tariff policies, such as the expected increase in copper tariffs...

[SMM Shanghai and Other 1# Lead Markets: Lead Prices Fluctuate and Pull Back, Regional Trading in Spot Market Slightly Better] SMM reported on July 8: In the Shanghai market, Chihong and Honglu lead were quoted at 17,020-17,080 yuan/mt, with a discount of 60-20 yuan/mt against the SHFE lead 2508 contract. In the Jiangsu-Zhejiang market, Jijin and JCC lead were quoted at 17,040-17,080 yuan/mt, with a discount of 40-20 yuan/mt against the SHFE lead 2508 contract. The center of SHFE lead prices moved further downward, and the discounts quoted by suppliers narrowed slightly...

[SMM Lead Morning News: US Tariffs Become the Biggest Influencing Factor, Lead Prices Fall Both Domestically and Overseas] SMM reported on July 8: Overnight, LME lead opened at $2,058/mt. Affected by the uncertainty of US reciprocal tariffs, non-ferrous metals generally weakened, and LME lead also fluctuated downward throughout the day...

[SMM Lead Morning Meeting Summary: Lead Prices May Show a Pullback and Consolidation Trend Amid Tariff Risks and Expected Increase in Supply] Trump's First Wave of Tariff Letters in the US: Starting August 1, the US will impose a 25% tariff on products from Japan and South Korea, threatening additional tariffs if retaliatory measures are taken. Recently, lead prices have held up well, rising above 17,000 yuan per ton. Losses in secondary lead have narrowed, and production enthusiasm among lead smelters has increased...

[SMM Analysis: Increased Supply of Primary and Secondary Lead, Social Inventory Continues to Rise] SMM News on July 7: According to SMM, as of July 7, the total social inventory of lead ingots in five regions tracked by SMM reached 57,900 mt, an increase of 1,500 mt from June 30 and 1,000 mt from July 3.

[SMM social inventory of lead ingots: Increased supply of primary and secondary lead, social inventory continues to rise] Recently, lead prices have held up well and risen above 17,000 yuan per ton. The losses of secondary lead smelters have narrowed, and the production enthusiasm of lead smelters has increased. Additionally, the new capacity of lead smelting has gradually come into operation...