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Shanghai Metal Network: Lead prices shift downward, downstream buyers procure on demand at lower prices.

K-LinePoet
Today, Shanghai Metal Network's #1 lead spot quotation: 15,600-15,700 yuan/ton, average price 15,650 yuan/ton, down 225 yuan/ton from the previous trading day, at a discount of 170-70 yuan/ton to the 2607 contract. The strong US dollar index continues to pressure lead prices, with intraday lead price declines widening. As of the noon close, the main contract fell 235 yuan/ton, a decline of 1.46%. Lead prices remain weak, with the center of gravity further moving lower. Downstream consumption is still mainly based on rigid demand and low-price procurement. Prices have fallen below 16,000 yuan/ton, market sentiment seems to have eased, but transaction changes are not obvious, and spot remains in a discount state. (SHMET)
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