Group 1 - The current spot price of lead ingots in Shanghai is reported at 16,925.00 CNY/ton, which is a discount of 250.00 CNY/ton compared to the futures main price of 17,175.00 CNY/ton [1] - On July 2, the futures market closed with the main contract for lead at 17,175.00 CNY/ton, showing a slight increase of 0.23%, with a daily trading volume of 27,524 lots [2] - The London Metal Exchange (LME) reported a total lead inventory of 268,150 tons, which decreased by 1,925 tons, indicating a tightening supply [3] Group 2 - According to a report from Nanhua Futures, the supply side is experiencing a recovery in smelting plants driven by high lead prices, but overall supply remains tight due to limited raw material availability for recycled lead [4] - The demand side is approaching peak season, with increased willingness to stock up, although actual transactions remain weak due to rising prices [4] - The market outlook suggests a period of volatility driven by weak supply and demand dynamics along with macroeconomic influences [4]