SMM April 20:
The most-traded SHFE lead 2605 contract opened at 16,750 yuan/mt during the session. From the early session to mid-session, it moved sideways within the range of 16,715-16,775 yuan/mt. Towards the end of the session, the price center pulled back slightly, dipping to a low of 16,710 yuan/mt, and finally closed at 16,735 yuan/mt, posting a small bearish candlestick, down 40 yuan/mt or 0.24%. At present, the lead-acid battery industry has entered the traditional consumption off-season, and social inventory of lead ingots in China has continued to accumulate, exerting sustained downward pressure on lead prices. Meanwhile, some secondary lead smelters underwent maintenance and cut production in mid-to-late April, coupled with a reduction in imported refined lead inflows, leading to marginal tightening of upstream supply. This offset the impact of weak downstream consumption to some extent, and SHFE lead prices are likely to move sideways within a range in the short term.
Data source disclaimer: Data other than public information is derived from public information, market communication, and SMM's internal database models, processed by SMM for reference only and does not constitute decision-making advice.
