SMM January 27 News: Today marked the last trading day before the Chinese New Year. SHFE lead maintained a fluctuating upward trend, and contracts showed a backwardation structure. Suppliers had mostly stopped quoting prices, coupled with logistics suspension and widespread production halts for holidays downstream, leaving the spot market stagnant and in a state of no price and no market.
Other Markets: Today, the SMM 1# lead average price dropped by 50 yuan/mt compared to the previous trading day. With upstream and downstream enterprises in the industry chain on holiday and logistics suspended, market transactions came to a halt, creating a strong holiday atmosphere.
