LME 3M Lead Gains on Moderate Upward Momentum

Highlights of LME Future price: Market trading at $1,961/t, up $13.50 (+0.69%) on the day. Prices opened at $1,950.5/t and moved higher, briefly touching high of $1,965.5/t before stabilizing. The upward momentum suggests short-term buying interest, although gains remain relatively moderate.

Highlights of China lead market: In the remelted lead market, tight supply persisted as recyclers were reluctant to sell at lower price levels, leading to reduced spot trading activity. On the demand side, downstream buyers mainly procured on demand-basis, while others remained on the sidelines awaiting the commencement of new monthly contracts. Overall, spot trading remained subdued, balancing firm supply-side pricing with slightly weaker downstream demand.