Bullish and bearish factors intertwined, SHFE lead maintained a fluctuating trend [Lead Futures Brief Review]

Mar 27, 2025, at 3:55 pm

【SMM Lead Futures Review】During the day, the most-traded SHFE lead 2505 contract opened at 17,630 yuan/mt, fluctuated around the 17,610 yuan/mt level, and finally closed at 17,615 yuan/mt, up 0.23%, with an open interest of 54,100.

SMM March 27, 2025 News: The most-traded SHFE lead 2505 contract opened at 17,630 yuan/mt, fluctuated around 17,610 yuan/mt during the day, and finally closed at 17,615 yuan/mt, up 0.23%, with an open interest of 54,100. Recently, the lead market is expected to see a dual decline in supply and demand. On one hand, maintenance at primary lead smelters has led to a temporary reduction in supply, which has already impacted the current spot market circulation, continuing to support lead prices to fluctuate upward. Meanwhile, secondary lead producers have seen stable and increasing production, with robust demand for raw materials such as scrap batteries, driving scrap prices higher, and the cost push effect remains. On the other hand, lead-acid batteries will enter the traditional off-season in April, coupled with high raw material costs such as lead and antimony, prompting some companies to actively control inventory. In the middle and late months, companies are expected to cut production or take holidays, posing resistance to subsequent lead ingot destocking. 》Order to view SMM metal spot historical prices

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Bullish and bearish factors intertwined, SHFE lead maintained a fluctuating trend [Lead Futures Brief Review]

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