






SMM August 6:
Overnight, LME lead opened at $1,962.5/mt, fluctuating rangebound in the Asian session, with a low of $1,958/mt. Entering the European session, LME lead fluctuated downward and then rebounded, hitting a high of $1,979.5/mt in the closing session, and finally closed at $1,975.5/mt, up 0.61%.
Overnight, the most-traded SHFE lead 2509 contract opened at 16,750 yuan/mt, oscillating and consolidating around the intraday average line after the opening. It briefly touched a low of 16,720 yuan/mt in the early session and then rebounded slightly, hitting a high of 16,775 yuan/mt in the closing session, and finally closed at 16,755 yuan/mt, up 0.24%.
Production at a medium-to-large-scale smelter in Central China gradually stabilized and slightly increased. The tight spot supply of primary lead in the region has eased somewhat. The sewage inspection and rectification in Anhui Province have had a certain impact on secondary lead smelters. Some smelters have voluntarily suspended production for maintenance and are observing the progress of the work, while the remaining secondary lead smelters are still maintaining production and waiting for further instructions. Due to the lack of significant improvement in downstream lead consumption at this stage, the production situation of secondary lead smelters in Anhui Province has been unstable for several months, mostly operating at low production levels. Regarding the inspection and resolution of the sewage issue, it is recommended that the market maintain a wait-and-see attitude and pay attention to short-term lead price fluctuations.
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market exchanges, and relying on SMM's internal database models, for reference only and not constituting decision-making advice.
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