SMM November 25 News:
The most-traded SHFE lead 2601 contract opened at 17,075 yuan/mt today. It fluctuated rangebound below the daily average line in early trading, then fluctuated downward in the afternoon due to bulls reducing positions, touching a low of 17,010 yuan/mt and breaking below the lower Bollinger Band. It saw a slight rebound in the final session, closing at 17,045 yuan/mt, down 90 yuan/mt, or 0.53%, marking a four-day losing streak.
Currently, lead prices continue to fluctuate at lows. Secondary lead smelters show limited willingness to sell, keeping their offers firm. Some downstream lead-acid battery producers make just-in-time procurement favoring primary lead, while others await long-term contract cargo pick-up next month. As waste lead-acid battery recyclers are selling due to fear of price declines, caution is still needed regarding the potential impact of weakened raw material cost support on lead prices.
Data Source Statement: Data not from public sources are processed by SMM based on public information, market communication, and SMM's internal database model, for reference only and not as decision-making advice.
