SHFE Lead Under Pressure and in the Doldrums, Posting Three Consecutive Declines Within the Week [Brief Comment on SHFE Lead]

SMM April 24 News:

The most-traded SHFE lead 2606 contract opened at 16,665 yuan/mt intraday. During the early to mid-session, SHFE lead prices moved sideways in the range of 16,635–16,675 yuan/mt, edged higher in the afternoon session, touching a high of 16,700 yuan/mt, before pulling back to close at 16,670 yuan/mt, recording a bearish candlestick, up 10 yuan/mt or 0.06%. The off-season trend in the lead-acid battery sector deepened, with downstream production cuts expanding and purchasing demand remaining persistently weak, while lead ingot social inventory continued to build steadily. In Jiangsu, Anhui, and other regions, secondary lead enterprises increasingly curtailed or halted production, tightening regional supply. Overall market sentiment remained mixed between bulls and bears, compounded by macro disruptions, with lead prices expected to remain in the doldrums in the near term.

Data Source Disclaimer: All data beyond publicly available information is derived by SMM based on public information, market communication, and SMM's internal database models, provided for reference only and does not constitute investment advice.