Secondary lead smelters increase production cuts or maintenance, SHFE lead holds up well [Lead Futures Brief]

SMM Aug 25 News:

The most-traded SHFE lead 2509 contract opened at 16,850 yuan/mt and fluctuated around the 16,870 yuan/mt level. LME lead inventory decreased by 6,550 mt, with bears reducing positions. The contract finally closed at 16,845 yuan/mt, up 0.39%, with an open interest of 27,975 lots.

Recently, due to losses and undersupply of scrap, more secondary lead enterprises have cut production or undergone maintenance. Additionally, as the SCO summit in Tianjin and the military parade in Beijing are about to begin, temporary vehicle restrictions have been implemented in some parts of Central and North China, extending the transportation cycle for scrap and lead ingots. Overall, the short-term lead price trend is expected to hold up well.

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