Spot Trades Indicate Limited Short-Term Rebound Potential for SHFE Lead [Lead Futures Brief]

SMM January 7, 2025:

During the day, the most-traded SHFE lead 2502 contract opened at 16,735 yuan/mt, fluctuated downward after the opening, hit a low of 16,660 yuan/mt in the afternoon, rebounded slightly by the close, and finally settled at 16,730 yuan/mt, down 0.03%, with an open interest of 43,709 lots.

In-plant inventory at smelters remained limited, and ex-factory quotes stayed firm in recent days; downstream battery producers followed their usual stockpiling practices, but purchasing sentiment was relatively cautious. Overall, the rebound potential for lead prices may be relatively limited.

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