[SMM Shanghai and Other #1 Lead Market Midday Review: Shanghai Lead Price Down with Reduced Positions, Tight Supply in Spot Market]

SMM June 21 News: Quotations in the Shanghai market are scarce; in Jiangsu and Zhejiang regions, Jijin and Jiangtong lead are quoted at 18,830-18,850 yuan/ton, with a premium of 30-50 yuan/ton against the Shanghai Lead 2407 contract. Long positions in the Shanghai Lead market are gradually withdrawing, with the weighted position size decreasing from 215,000 contracts to 166,000 contracts over the past two consecutive days. The lead price is fluctuating downwards, while in the spot market, there is a relatively tight supply of deliverable brands, and holders are holding firm on prices when offering cargo.