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Shanghai Metal Market: Lead prices hover at low levels, downstream just-in-time stockpiling
Today, Shanghai Metal Market #1 Lead Spot Price: 16,300-16,450 RMB/ton, average 16,375 RMB/ton, down 25 RMB/ton from the previous trading day. The premium to the 2602 contract is 210-60 RMB/ton. Today’s spot market atmosphere is average, downstream procurement is nearing the end, lead prices continue to stabilize, and most enterprises are mainly stockpiling for immediate needs. Spot prices remain at a discount with limited fluctuations. (SHMET)