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Shanghai Metal Market: Lead prices fluctuate weakly with limited spot trading
Today, Shanghai Metal Market #1 Lead Spot Price: 16,500-16,650 RMB/ton, average 16,575 RMB/ton, up 50 RMB/ton from the previous trading day. The contract 2603 is quoted at a discount of 200-50 RMB/ton. This morning, Shanghai lead opened high and then declined, fluctuating narrowly during the session. By midday, the main contract closed with a small increase of 60 RMB/ton, a 0.36% rise. On the first day after the holiday, the spot market sentiment was relatively subdued, with lead prices moving higher than pre-holiday levels but with limited gains. Downstream stock replenishment was also limited, mainly purchasing on demand, resulting in generally weak trading activity and spot prices remaining at a discount. (SHMET)