Lead Prices Fluctuated Intraday, Closing with a Small Bearish Candlestick [Lead Futures Brief Review]

SMM May 28:

During the session, the most-traded SHFE lead 2607 contract opened at 16,594 yuan/mt. After moving sideways within the range of 16,585-16,620 yuan/mt in early trading, prices shifted downward, with the price center continuing to decline. Prices dipped to a low of 16,555 yuan/mt before rebounding to move sideways within the range of 16,560-16,605 yuan/mt, ultimately closing at 16,595 yuan/mt. The contract recorded a small bearish candlestick, falling 135 yuan/mt, or 0.81%. This week, some smelters in North China and South China ended shutdowns and resumed production, and the operating rate of secondary lead smelters rebounded. Affected by weak downstream purchasing enthusiasm, finished product inventories at secondary lead smelters saw a slight inventory buildup this week, exerting some downward pressure on lead prices. In June, the pace of production resumptions at secondary lead smelters is expected to accelerate. It is necessary to continue tracking the progress of production resumptions and the impact of production release on lead prices going forward.

Data source disclaimer: Data other than publicly available information was derived by SMM based on publicly available information, market communication, and SMM's internal database models. It is for reference only and does not constitute decision-making advice.