SMM, April 17:
The most-traded SHFE lead 2605 contract opened at 16,691 yuan/mt during the session. Lead prices fluctuated upward in early trading, reaching a high of 16,790 yuan/mt before pulling back under pressure due to insufficient fundamental support. Prices moved sideways in the 16,735-16,775 yuan/mt range toward the end of the session, ultimately closing at 16,775 yuan/mt with a small bullish candlestick and a gain of 0%. Medium and large secondary lead enterprises in east China concentrated on production cuts and shutdowns, and the tightening supply in mid-to-late April provided phased support for lead prices. However, downstream lead-acid battery consumption remained in the off-season with weak demand. Combined with visible inventory continuing to accumulate driven by contract deliveries, bullish and bearish factors were intertwined, leaving the market without a clear trend for now. In the short term, lead prices are likely to maintain a pattern of wild swings.
Data source statement: Data other than publicly available information is derived from publicly available information, market communication, and SMM's internal database models, processed by SMM for reference only and does not constitute decision-making advice.
