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Shanghai Metal Market: Lead prices hover at low levels, spot transactions are dull
Today, Shanghai Metal Market #1 Lead Spot Price: 16,350-16,450 yuan/ton, average 16,400 yuan/ton, unchanged from the previous trading day. The premium to the 2602 contract is 190-90 yuan/ton. This morning, lead prices continued their weak trend, with the main Shanghai lead futures contract falling 30 yuan/ton, a decrease of 0.18%, by midday close. The spot market today saw relatively light trading, with lead prices remaining at low levels and little fluctuation. Pre-holiday downstream replenishments have been gradually completed, and spot trading has also weakened accordingly. The market sentiment remains weak, and the discount persists. (SHMET)