SHANGHAI, Aug. 1 (SMM) – On Tuesday, SHFE 1709 lead opened at RMB 18,355/mt and then dipped to RMB 18,165/mt. The contract later fluctuated between RMB 18,180-18,280/mt and ended at RMB 18,185/mt, down RMB 215/mt or 1.17%. Trading volumes reduced 35,534 to 39,984 lots and positions fell 2,754 to 46,258.
SHFE 1709 lead will keep hovering at highs in a short term.
![Rising China Supply Combined with Ex-China Inventories at 13-Year High Limits Upside Momentum for Lead Prices [SMM Lead Market Weekly Forecast]](https://imgqn.smm.cn/usercenter/msNEk20251217171722.jpg)
![Intraday lead prices edged up before fluctuating and pulling back, eventually closing with a doji [Lead Futures Brief]](https://imgqn.smm.cn/usercenter/qnyHQ20251217171721.jpeg)
