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Home / Metal News / Production Cuts Disruptions Intertwined With Weak Demand, Tug-of-War Between Longs and Shorts Intensifies [Lead Futures Brief]

Production Cuts Disruptions Intertwined With Weak Demand, Tug-of-War Between Longs and Shorts Intensifies [Lead Futures Brief]

iconSep 2, 2025 15:43

SMM September 2 news:

The most-traded SHFE lead 2510 contract opened at 16,930 yuan/mt during the day. After opening, SHFE lead plunged, with subdued spot trading activity. Lead prices lacked upward momentum, briefly dipping to 16,830 yuan/mt before closing at 16,850 yuan/mt, down 0.03% for two consecutive losing sessions, with open interest at 51,504 lots.

Recent production cuts on the supply side intertwined with weak consumption performance have intensified the tug-of-war between longs and shorts. Demand-side factors currently exert greater influence on lead prices, with short-term resistance remaining for SHFE lead.

Source statement: Data other than publicly available information is derived from public sources, market exchanges, and SMM's internal database models, processed by SMM for reference only and not constituting investment advice.

 

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 model, for reference only and do not constitute decision-making recommendations.

For queries, please contact Lemon Zhao at lemonzhao@smm.cn

For more information on how to access our research reports, please email service.en@smm.cn

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