May 15, SMM: according to SMM, as of Friday (May 15), the total inventory of lead ingots in the five places of SMM totaled 9300 tons, up 1400 tons from last week.
It is understood that after May Day, the lead battery market consumption performance is general, and because the terminal consumption is in the off-season, the stock of raw materials and finished products have a certain accumulation, just need to purchase limited; at the same time, lead prices once rushed up, downstream generally afraid of high wait-and-see. In addition, the newly expanded production capacity of recycled lead has been gradually released, the supply of recycled refined lead has increased, and some of the primary lead demand has been further diverted.
Next week, the production of primary lead enterprises has not changed greatly, recycled lead is expected to continue to increase, and imported lead is about to arrive in Hong Kong, the subsequent social inventory has increased again.
![A corto plazo, los futuros de plomo de la SHFE se moverán lateralmente, mientras China se centra en la reanudación de la producción de plomo secundario y en los cambios en las tasas de operación de los sectores descendentes. [Comentario breve sobre futuros del plomo]](https://imgqn.smm.cn/usercenter/qnyHQ20251217171721.jpeg)
