Shanghai Metal Market: Lead prices fluctuate within a range, spot transactions are average

Today Shanghai Metal Market #1 Lead Spot Price: 16,550-16,700 RMB/ton, average 16,625 RMB/ton, up 200 RMB/ton compared to the previous trading day, with a premium of 240-90 RMB/ton over the 2605 contract. This morning, lead prices opened higher and surged significantly during the session. By midday, the Shanghai lead main contract rose by 285 RMB/ton, a 1.72% increase. Today, spot market transactions were moderate; after the holiday, Shanghai lead rebounded sharply, which suppressed consumption. Downstream buyers mostly purchased on just-in-time basis, remaining cautious and observing. However, some post-holiday replenishment activities still supported the spot market, and today’s spot discount slightly narrowed. (SHMET)

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