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Shanghai Metal Network: Lead prices fluctuate with a slight upward trend, spot transactions remain sluggish
Today Shanghai Metals Market #1 lead spot quotation: 16,550–16,650 yuan/ton, average 16,600 yuan/ton, up 50 yuan/ton from the previous trading day. The spot trades at a discount of 180–80 yuan/ton versus the 2604 contract. The lead price trend is volatile and slightly strong. As of the midday close, the main Shanghai lead futures contract was up 50 yuan/ton, up 0.3%. A slightly strong lead price trend is weighing on consumption. In addition, downstream just-in-demand stockpiling ahead of the holiday has completed, leading to flat trading in the lead market during the session, with spot prices maintaining a discount. (SHMET)