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Shanghai Metal Market: Lead prices are relatively strong within the range; spot consumption remains flat
Today Shanghai Metal Market #1 Lead Spot Price: 16,600-16,700 RMB/ton, average 16,650 RMB/ton, up 50 RMB/ton from the previous trading day, trading at a premium of 200-100 RMB/ton over the 2605 contract. This morning, lead prices showed a relatively strong movement within the range. By midday, the Shanghai lead main contract rose by 55 RMB/ton, a 0.33% increase. Today’s spot market transactions were moderate, with lead prices remaining in a relatively strong trend. Downstream consumption sentiment was not high, mainly driven by just-needed purchases during trading hours, with spot prices maintaining around a 150 RMB premium level. (SHMET)