Against the Backdrop of Weak Supply and Demand, SHFE Lead in the Doldrums [Lead Futures Brief Review]

SMM Sept. 10:

The most-traded SHFE lead 2510 contract opened at 16,840 yuan/mt. The anticipated improvement in end-use consumption of lead during the September back-to-school season failed to materialize, while production cuts and shutdowns at secondary lead smelters increased. Against the backdrop of weak supply and demand, trading activity for lead ingots remained sluggish. SHFE lead was in the doldrums, touching a low of 16,790 yuan/mt in the afternoon session, and closed at 16,795 yuan/mt today, down 0.8%, with open interest at 50,467 lots.

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