SHFE lead slightly closed down during the day; attention should be paid to the destocking of lead ingots in the future [Lead Futures Brief Review]

SMM, December 20, 2024

— During the day, the most-traded SHFE lead 2501 contract opened at 17,335 yuan/mt, fluctuated around the intraday moving average after the opening, and finally closed at 17,360 yuan/mt, down by 1.27%. Environmental protection measures frequently impacted production and transportation of ingots in regions such as Henan, Anhui, and Hunan, leading to a regional tightening of lead ingot supply and a rise in spot premiums. However, futures market trading weakened due to factors such as the lifting of smog in Anhui and expectations of lead ingot imports. Moving forward, we need to pay closer attention to the destocking of lead ingots.

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