Downstream Lead Ingot Stockpiling Willingness Significantly Improved, Lead Prices Fluctuated at Highs [Lead Futures Brief Review]

SMM Sept. 19:

The most-traded SHFE lead 2510 contract opened at 17,140 yuan/mt and fluctuated around that level intraday. As the National Day and Mid-Autumn Festival holidays approached, downstream stockpiling sentiment for lead ingots improved significantly, supporting lead prices to fluctuate at highs. Additionally, due to low operating rates at smelters, downside support remained strong. The most-traded SHFE lead contract closed at 17,150 yuan/mt today, up 0.03%, marking a three-day winning streak, with open interest at 32,743 lots.

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