SMM December 12 news:
The most-traded SHFE lead 2601 contract opened at 17,115 yuan/mt, initially dropped slightly to a low of 17,075 yuan/mt, then fluctuated upward slightly, briefly consolidated around the daily average line before rising again, pulled back slightly at the tail and finally closed at 17,125 yuan/mt, down 25 yuan/mt or 0.15%. It recorded a star-shaped bullish candlestick.
Next week, maintenance at primary lead smelters in east China is expected to end, and supply will gradually resume, leading to a slight recovery in lead ingot market supply. In the secondary lead market, secondary lead smelters have raised raw material quotations multiple times recently, suppliers actively sold goods, and raw material availability improved. However, downstream battery producers mainly maintained just-in-time procurement, with limited purchasing enthusiasm. In the short term, lead prices may continue to consolidate, and attention should be paid to downstream purchasing enthusiasm and the impact of ample lead ingot supply from primary lead smelter production resumptions.
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