SMM Analysis: Review of the Lead Market during the 2024 Spring Festival and Outlook for the Post-Holiday Period

SMM News on February 18th: Holiday Trend Review: The market trading atmosphere was quiet before the festival, and LME lead rose and then fell during this period, dropping to $2106 per ton due to a large increase of 4575 tons of lead stock in Singapore. Meanwhile, Shanghai lead mainly fluctuated within a range around 16200 yuan per ton, with news of a significant decrease in refined lead supply in February... In the first week after the Spring Festival, the Shanghai lead 2402 contract will enter the delivery phase. On the one hand, due to the normal production of primary lead and recycled lead smelting enterprises during the Spring Festival, resulting in a backlog of lead ingot inventory, the circulation of spot goods in the post-holiday market is expected to be looser than before the holiday, and spot trading will turn to a discount direction; on the other hand...