SHFE lead continued to fluctuate at lows, recording a long-legged bearish candlestick [SHFE lead brief review]

SMM November 27 News:

The most-traded SHFE lead 2601 contract opened at 16,890 yuan/mt, fluctuated upward to around 16,950 yuan/mt in early trading, then fluctuated rangebound, rebounded slightly before closing, and ended at 16,950 yuan/mt, down 110 yuan/mt or 0.64%. It recorded a long-legged bearish candlestick.

Recently, some major e-bike lead-acid battery brands in east and central China have seen an increase in battery return rates. Relevant lead-acid battery enterprises are currently conducting battery detection and replacement work, which is expected to enhance battery plants' purchase willingness for lead ingots. Currently, end-user sectors such as EVs and automobiles remain in a low consumption season, leaving limited momentum for lead price rebound. Lead prices are expected to remain in the doldrums in the short term, and subsequent attention should be paid to raw material cost support for smelters.

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