SMM December 31:
Overnight, LME lead opened at $2,009.5/mt, touched a low of $2,007/mt during the Asian session and fluctuated upward, reaching a high of $2,030/mt. Entering the European session, LME lead fluctuated downward, with a slight rebound at the tail end of the session, finally closing at $2,024.5/mt, up $15.5/mt or 0.77%. It recorded a four-day winning streak.
Overnight, the most-traded SHFE lead 2602 contract opened at 17,490 yuan/mt, touched a high of 17,505 yuan/mt at the beginning of the session. Affected by bulls reducing positions, SHFE lead fluctuated downward all the way, touching a low of 17,330 yuan/mt, and fluctuated rangebound at the tail end of the session, finally closing at 17,365 yuan/mt, down 140 yuan/mt or 0.80%. It ended a six-day winning streak, forming a small bearish candlestick.
As the New Year's Day holiday approaches, overall willingness to sell among lead ingot suppliers is moderate, while some secondary lead smelters have temporarily halted sales due to chaotic market quotations. Some downstream battery producers have suspended spot order purchases for year-end closing and inventory counting; others have poor buying sentiment due to lead prices fluctuating at highs. It is reported that in-factory lead ingot inventory in Central China is showing an upward trend; if downstream enterprises' willingness to restock remains low after the holiday, be cautious of the drag from ample supply on lead price trends.
Data Source Statement: Except for publicly available information, other data are processed by SMM based on public information, market communication, and SMM's internal database model, and are for reference only, not constituting decision-making advice.
