SMM February 19, 2025 News
During the day, the most-traded SHFE lead 2503 contract opened at 17,120 yuan/mt, fluctuated downward after the opening, with bulls continuously reducing positions, and fell to a low of 16,930 yuan/mt in the afternoon before closing at 16,965 yuan/mt, down 1.19%, with an open interest of 26,228 lots. In the morning, market rumors suggested that a major downstream battery producer had a production cut plan; expectations of weaker lead ingot consumption increased the willingness of bulls to exit. In the short term, lead prices may fluctuate downward, as limited scrap battery supply still provides some support for lead prices.
