SMM, December 17: In the Shanghai market, Honglu lead was quoted at 17,440-17,530 yuan/mt, with a discount of 10-0 yuan/mt against the SHFE lead 2501 contract. In Jiangsu and Zhejiang regions, Tongguan and JCC lead were quoted at 17,440-17,530 yuan/mt, with a discount of 10-0 yuan/mt against the SHFE lead 2501 contract. In Anhui, production restrictions due to smog once again tightened the regional supply of lead ingots, pushing SHFE lead to strengthen amid fluctuations. Moreover, spot market circulation was limited, and suppliers stood firm on quotes, especially for cargoes self-picked up from production sites, with premiums (against the SMM 1# lead average price) raised compared to the previous day. Secondary refined lead quotations were scarce, with some sold at premiums. Downstream enterprises made just-in-time procurement cautiously.
Other markets: Today, the SMM 1# lead price rose by 100 yuan/mt compared to the previous trading day. In Henan, smelters quoted premiums of 50-100 yuan/mt against the SMM 1# lead price. In Hunan, spot cargoes from smelters were relatively tight, with premiums of 150-200 yuan/mt against the SMM 1# lead price, as suppliers stood firm on quotes and were reluctant to sell. After the rebound in lead prices, suppliers in the Yunnan market made limited sales, quoting discounts of 150-200 yuan/mt, with transactions concluded. Downstream maintained just-in-time procurement, and the market remained sluggish.
