SMM reported on January 8: In the Shanghai market, Chihong lead was quoted at 16,790-16,835 yuan/mt, with a premium of 50-80 yuan/mt against the SHFE lead 2502 contract; in Jiangsu and Zhejiang regions, JCC and Jinde lead were quoted at 16,740-16,800 yuan/mt, with a premium of 0-50 yuan/mt against the SHFE lead 2502 contract. SHFE lead remained in a consolidation phase, and suppliers followed the market trend to sell. During this period, the circulation of secondary lead increased, the premium for cargoes self-picked up from primary lead smelters was lowered, and considering the Chinese New Year factor, suppliers actively quoted and sold. Meanwhile, downstream enterprises were cautious and mostly in a purchasing-as-needed state.
Other markets: Today, the SMM 1# lead average price rose by 25 yuan/mt compared to the previous trading day. In Henan, suppliers quoted a premium of 0-75 yuan/mt against the SMM 1# lead average price or a premium of 50 yuan/mt against the SHFE lead 2402 contract. Downstream buyers were mostly on the sidelines, and transactions were light. In Hunan, the premium slightly decreased to 220-260 yuan/mt, while in Jiangxi, Yunnan, Guangdong, and other regions, primary lead continued to be quoted at high premiums, with downstream buyers making small, nearby purchases to meet immediate needs.
