SHFE Lead Breaks Below Lower Bollinger Band, Recording Four-Day Losing Streak [Futures Lead Brief Review]

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.
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