Under the contradiction of tight supply of waste lead-acid batteries and severe surplus in secondary lead production capacity, the high costs brought about by the firm prices of scrap batteries, coupled with weak downstream consumption, have led to prolonged losses for China's secondary lead smelters. The price of secondary refined lead often remains unchanged, while sentiment fluctuates first. Is there a way for enterprises to capture the market's "temperature" before "price fluctuations"?

Futures market: LME copper opened at $9,940/mt (the session high) overnight, then fluctuated downward with the price center gradually declining to touch a low of $9,848/mt before closing at $9,854.5/mt after considerable fluctuations, down 0.8%.

Overnight, LME lead opened at $2,029/mt, consolidating in a range during the Asian session.

[SMM Analysis: Limited Downstream Rigid Demand Keeps Social Inventory of Lead Ingots at a Four-Month High] SMM News on July 24: According to SMM, as of July 24, the total social inventory of lead ingots across five regions reached 71,400 mt, an increase of 2,400 mt from July 17 and approximately 100 mt from July 21.

Futures market: LME copper opened at $9,940/mt overnight, fluctuated downward to $9,914.5/mt in early trading, then fluctuated considerably to a high of $9,946.5/mt before consolidating sideways and finally closing at $9,933.5/mt, up 0.36%, with trading volume at 15,000 lots and open interest at 265,000 lots.

Overnight, LME lead opened at $2,013/mt, fluctuating downward during the Asian session to a low of $2,000.5/mt. It rebounded and gained ground in the European session, reaching a high of $2,036/mt in the closing session, and finally closed at $2,028.5/mt, up 0.69%.