SHFE Lead Prices Rose Over 2% after Increasing for 3 Days on Falling Stocks and Maintenance

Published: Nov 24, 2021 16:33

Save

The most-traded SHFE lead rebounded this week and rose over 2% intraday. The most-traded SHFE lead rose 4.31% from a low of 14,620 yuan/mt on October 11.

SHANGHAI, Nov 24 (SMM) – The most-traded SHFE lead rebounded this week and rose over 2% intraday. The most-traded SHFE lead rose 4.31% from a low of 14,620 yuan/mt on October 11.

SMM #1 lead ingot averaged 15050 yuan/mt today, up 325 yuan/mt or 2.21% from November 19.
The production of primary lead stabilises while many secondary lead producers may undergo maintenance. Therefore, the output of secondary lead is likely to decline. In addition, the exports of refined lead in October were as high as 26,643 mt, which is rarely seen.

The lead ingot stocks across domestic five markets have declined since September 26. Social inventory of lead ingots across five markets totalled 154,400 mt as of November 22, down 61,600 mt or 28.52% from a high point on September 26.

Downstream consumption was muted.

Sound export data and the news of output cut at Glencore offer support to futures lead. Lead prices are expected to be further supported by falling social inventory and lead ingots decrease estimate.

SHFE lead lead lead ingots

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

4 hours ago

Operating Rate of Primary Lead Smelters in Three Provinces Up 0.22% WoW last Week(March 22-26, 2026)

[SMM Lead Market Bulletin] This week (March 22-26, 2026), the average operating rate of primary lead smelters in three provinces was 62.81, up 0.22 percentage points WoW from the previous week's operating rate.

4 hours ago

Insufficient Upward Momentum, LME Lead Pulled Back After Rising [SMM Lead Morning Brief]

[SMM Lead Morning Comment: Insufficient Upward Momentum, LME Lead Pulled Back After Hitting a High] SMM, March 30: Last Friday, LME lead opened at $1,892/mt. After the opening, LME lead rose rapidly above $1,900/mt during the Asian session, but geopolitical tensions outside China remained prominent......

4 hours ago

Bullish and Bearish Factors Coexisted, Lead Prices Were Expected to Continue Fluctuating Rangebound [SMM Lead Morning Meeting Summary]

[SMM Lead Morning Meeting Summary: Bullish and Bearish Factors Coexist, Lead Prices Are Expected to Continue Fluctuating Rangebound] Iran said the Strait of Hormuz had been closed and that three container ships had been turned back. Recently, lead ingot inventory in China has been destocked, including inventory at smelters and in social warehouses, and lead prices have shown signs of stabilizing after the decline...

4 hours ago