SMM, January 9, 2025
— During the day, the most-traded SHFE lead 2502 contract opened at 16,585 yuan/mt, briefly touched a low of 16,455 yuan/mt in early trading, then fluctuated around 16,550 yuan/mt, and finally closed at 16,505 yuan/mt, down 1.46%, marking a three-day losing streak, with an open interest of 40,156 lots.
Social inventory of lead ingots continued to decline, while next week marks the delivery date of the SHFE lead 2501 contract, raising the possibility of transferring delivery warehouse stocks. Due to the increasing impact of the Chinese New Year on the market, downstream enterprises are on holiday, and logistics and transportation vehicles are gradually decreasing. It is expected that the volume of lead ingots delivered this round will not be significant. In the near term, lead prices may maintain sideways movement.
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