SMM, May 19:
The most-traded SHFE lead 2606 contract opened at 16,480 yuan/mt during the session. SHFE lead prices edged up slightly at the beginning of the session before pulling back, dipping to a low of 16,410 yuan/mt. Prices then rebounded and moved sideways within the 16,445-16,470 yuan/mt range. Near the close, prices edged up slightly, ultimately settling at 16,480 yuan/mt, recording a bearish candlestick with a gain of 5 yuan/mt, or 0.03%. This week, production cuts and shutdowns at secondary lead smelters due to insufficient raw materials gradually improved, but the industry's overall operating level remained low. In addition, arrivals of imported lead decreased, and overall market supply tightened. Downstream consumption demand remained weak. The market currently maintained a pattern of weakening on both the supply and demand sides, and lead prices are expected to continue moving sideways in the short term.
Data source statement: Data other than publicly available information is derived from publicly available information, market communication, and SMM's internal database models, processed by SMM for reference only and does not constitute decision-making advice.
