Lead prices rose first and then fell during the day, with slightly insufficient momentum for rebound [Brief Comment on Lead Futures]

SMM News on August 14:

The most-traded SHFE lead 2509 contract opened at 16,780 yuan/mt today. It first rose and then fell during the day, reaching a low of 16,755 yuan/mt in the tail end, and finally closed at 16,770 yuan/mt, down 0.92%, with an open interest of 51,370 lots.

On the raw material side, the tight supply of lead concentrates and scrap continues to support costs. The local supply of secondary refined lead did not increase as expected, and attention should still be paid to the realization of the expected regular maintenance of primary lead smelters in Q3. The downstream lead-acid battery sector showed mediocre performance during the peak consumption season, with a strong wait-and-see sentiment in the market. The momentum for lead price rebound is slightly insufficient.

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