Last Friday, LME lead opened at $2,152.5/mt, with its trading range gradually moving downwards throughout the day. By the night session, the decline in LME lead expanded, reaching a low of $2,120/mt, the lowest since April 8, 2024, and finally closed at $2,121.5/mt, down 1.55%.
Last Friday, the most-traded SHFE lead 2409 contract opened at 19,465 yuan/mt. With expectations of supply resumption intensifying, SHFE lead showed a move downwards after a higher opening, trading around 19,330 yuan/mt. It eventually closed at 19,370 yuan/mt, down 0.39%; its open interest reached 100,000 lots, an increase of 8,415 lots from the previous trading day.
![Secondary Lead Raw Material Recycling Diverged, Secondary Crude Lead Supply Tightened and Prices Are Expected to Remain Firm in the Future [SMM Scrap Battery & Secondary Crude Lead Weekly Review]](https://imgqn.smm.cn/usercenter/mIbTL20251217171721.jpg)
![Downstream Enterprises Bought the Dip, and Primary Lead Enterprise Plant Inventory Continued to Decline [SMM Weekly Review of Primary Lead Inventory]](https://imgqn.smm.cn/usercenter/hrxHx20251217171721.jpeg)
![SHFE Lead Closed Slightly Higher Intraday, Lead Prices Remained Volatile Amid the Tug-of-War Between Sellers and Buyers [Brief Commentary on Lead Futures]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)
