SMM January 7, 2025:
During the day, the most-traded SHFE lead 2502 contract opened at 16,735 yuan/mt, fluctuated downward after the opening, hit a low of 16,660 yuan/mt in the afternoon, rebounded slightly by the close, and finally settled at 16,730 yuan/mt, down 0.03%, with an open interest of 43,709 lots.
In-plant inventory at smelters remained limited, and ex-factory quotes stayed firm in recent days; downstream battery producers followed their usual stockpiling practices, but purchasing sentiment was relatively cautious. Overall, the rebound potential for lead prices may be relatively limited.
