SHFE Lead Continued to Decline amid Short Increasing

SHANGHAI, May 26 (SMM) - The most-liquid SHFE 2207 lead contract opened at 14,900 yuab/mt and fell 1.69% to end at 14,800 yuan/mt, after briefly hitting the highest point at 14,930 yuan/mt and dropping to the lowest level at 14,790 yuan/mt. The trading increased by 11,857 lots to 67,982 lots, and open interest increased by 5,237 lots to 67,012 lots.

Recently, the domestic lead spot market supply is expected to increase, but the consumption was weak, hence the overall transaction was modest. In the follow-up, further attention should be paid to the changes in the domestic lead ingot social inventory and the recovery of downstream consumption. The prices of most traded SHFE lead contracts are expected to stand between 14,750-15,000 yuan/mt.