SHFE lead 2607 traded above the daily average line intraday, recording a three-day winning streak [Lead Brief Review]

SMM, June 17 –

During the day, the most-traded SHFE lead 2607 contract opened at 16,415 yuan/mt, moved higher in early session volatility to reach a high of 16,490 yuan/mt, and later moved sideways within the range of 16,435–16,485 yuan/mt before finally settling at 16,470 yuan/mt, recording a three-day winning streak, up 160 yuan/mt, a gain of 0.98%. The Dragon Boat Festival holiday was approaching, downstream processing enterprises were gradually arranging shutdowns for the break, and spot trade sentiment further cooled. Supply-side disruptions continued to emerge, with secondary lead smelters adding maintenance capacity; this week also saw some primary lead smelters resume production, leaving overall supply highly uncertain. The current supply-demand fundamentals, with both sides weakening, capped the rise in lead prices.

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