SMM, May 14, 2025
The most-traded SHFE lead 2506 contract opened at 16,960 yuan/mt today. As the US dollar index declined, pressure on non-ferrous metals eased, leading to a general price increase. SHFE lead fluctuated upward to catch up with the broader rally. However, due to weak spot consumption, it struggled to break through the 17,000 yuan/mt level despite repeated attempts. The contract eventually closed at 16,935 yuan/mt, down 0.21%, with an open interest of 30,725, and recorded a doji bullish candlestick. It is reported that US President Trump stated that Congress is expected to pass the largest tax cut bill in history. The tax relief bill is "progressing smoothly" in Congress and will serve as a rocket to propel the US economy to new heights. Overall, lead prices were boosted by the general rally in non-ferrous metals but faced pressure from weak spot consumption. In the short term, lead prices may remain in a consolidation phase.
