[SMM Lead Midday Review: Few Quotations for Refined Lead Today, Market Activity Remains Sluggish] SMM reported on April 30: Today, the SMM 1# lead average price dropped by 75 yuan/mt from yesterday to 16,700 yuan/mt, with a price difference between primary metal and scrap of 25 yuan/mt. On the last trading day before the holiday, market activity was low. Some downstream battery producers restocked a small amount at low prices. Secondary lead smelters offered few quotations and basically did not issue spot orders.

[SMM Morning Lead News: Poor Performance of Spot Lead Ingot, LME Lead Trends in the Doldrums] SMM reported on April 30: Overnight, LME lead opened at $19,487/mt and fluctuated downward. It hit a low of $1,962/mt in the afternoon. As the US dollar index weakened, LME lead rebounded, reaching a high of $1,982.5/mt at the close, and finally closed at $1,975/mt, down by 0.1%.

【SMM Morning Lead Meeting Summary: Last Trading Day Before the Holiday, Sluggish Trading in the Spot Lead Ingot Market】As the Labour Day holiday approaches, the trading atmosphere in the upstream and downstream sectors of the lead industry chain is gradually becoming sluggish. Due to tight supply of raw materials, it is common for secondary lead smelters to reduce or halt production, with spot orders hardly being shipped. Primary lead suppliers, on the other hand, are actively quoting and shipping due to the impending Labour Day holiday. Downstream battery producers are mostly expected to halt production and take holidays, with stockpiling before the holiday mainly focusing on long-term contract purchases, and most have already completed their inventory build-up.

[SMM Lead Futures Brief Commentary] During the day, the most-traded SHFE lead 2506 contract opened at 16,960 yuan/mt, fluctuated downward to a low of 16,870 yuan/mt, and finally closed at 16,895 yuan/mt, down 0.18%, with an open interest of 36,543.