SHFE Lead Under Pressure and Fluctuating During the Day, Forming a Bare Small Negative Candle [Lead Futures Brief Review]

게시됨: Mar 18, 2025 16:11
[SMM Lead Futures Brief Review] During the day, the most-traded SHFE lead 2504 contract opened at 17,600 yuan/mt. Due to the pressure from social inventory of lead ingots and the moderate purchasing willingness of downstream buyers, SHFE lead fluctuated downward after the opening and finally closed at a low of 17,540 yuan/mt, down 0.6%, with an open interest of 33,995 lots...
SMM March 18, 2025: During the day, the most-traded SHFE lead 2504 contract opened at 17,600 yuan/mt. Due to pressure from social inventory of lead ingots and moderate downstream purchasing willingness, SHFE lead fluctuated downward after the opening and finally closed at a low of 17,540 yuan/mt, down 0.6%, recording a small bearish candlestick with no upper or lower shadow. Open interest stood at 33,995 lots. Currently, the in-plant inventory of major primary lead smelters has dropped below 10,000 mt (as of March 13, the weekly in-plant inventory of primary lead smelters was 5,700 mt). The subsequent transfer volume of lead ingots is expected to be limited, and the trend of inventory buildup in social inventory after delivery may slow down. Additionally, the import window for lead ingots briefly opened earlier, and certain imported lead is expected to arrive soon. Attention should be paid to its impact on ingot production and inventory. Overall, lead prices are likely to face resistance and fluctuate in the short term. 》Subscribe to view historical SMM metal spot prices

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