SMM March 20, 2025
The open interest of the SHFE lead 2504 contract was 25,437 lots; the open interest of the SHFE lead 2505 contract was 65,232 lots. The most-traded SHFE lead contract officially rolled over to the 2505 contract.
During the day, the most-traded SHFE lead 2505 contract opened at 17,673 yuan/mt, fluctuated around 17,660 yuan/mt, with a low of 17,620 yuan/mt, and finally closed at 17,650 yuan/mt, down 0.08%.
Recently, a large primary lead smelter in Henan province underwent maintenance, leading to a temporary tightening of lead ingot supply; on the secondary lead side, due to tight raw material supply and high procurement prices, some companies indicated their intention to cut production. Overall, in the short term, lead prices may continue to fluctuate upward.
