[SMM Shanghai and Other #1 Lead Markets: Lead Price Center Moves Further Downward, with Significant Differences in Buying and Selling Between Upstream and Downstream Enterprises] SMM reported on July 16: In the Shanghai market, Chihong and Honglu lead were quoted at 16,845-16,905 yuan/mt, with a discount of 50-0 yuan/mt against the SHFE lead 2508 contract. In the Jiangsu-Zhejiang market, Jijin and JCC lead were quoted at 16,875-16,895 yuan/mt, with a discount of 20-10 yuan/mt against the SHFE lead 2508 contract. The center of SHFE lead prices moved further downward, with some suppliers narrowing their discount quotes...

Futures market: Overnight LME copper opened at $9,635.5/mt, initially fluctuated downward to hit a session low of $9,598/mt, then steadily climbed upward and reached a session high of $9,657.5/mt near the close, finally closing at $9,657.5/mt with a 0.15% gain.

[SMM Morning Lead Conference Summary: Weak Consumption Performance, Lead Futures Lose Ground Above 17,000] Fundamentals side, the supply of primary lead remained relatively stable. However, in terms of secondary refined lead, compared with the increase in by-product earnings, the increase in scrap battery prices was higher. Therefore, influenced by cost and profit, more secondary refined lead enterprises cut production, providing a floor support for lead prices...

    SMM reported on July 15: In the Shanghai market, Chihong and Honglu lead were quoted at 16,945-17,015 yuan/mt, with discounts of 60-0 yuan/mt against the SHFE lead 2508 contract.

Futures market: Overnight LME copper opened at $9,609/mt, dipped to $9,575/mt in early trading, then fluctuated upward and peaked at $9,649/mt near the close, finally settling at $9,643.5/mt with a 0.2% loss.

[SMM Lead Morning Meeting Summary: Consumption Peak Season Yet to Be Verified, Lead Prices in the Doldrums] As the delivery of the SHFE lead 2507 contract approaches, downstream enterprises tend to purchase cargoes self-picked up from production sites with relatively lower prices from smelters. Suppliers continue to transfer inventory to delivery warehouses, and the expected revelation of unreported inventory weighs on lead prices.