SMM December 23 news:
The most-traded SHFE lead 2602 contract opened at 16,970 yuan/mt today, fluctuating above the daily average line in early trading. It briefly corrected before noon, showing a weak rising trend, and finally closed at 16,995 yuan/mt, up 40 yuan/mt, or 0.24%. A small bullish candlestick was recorded.
SHFE lead overall stabilized with a slight increase today, and the rise was relatively small. Approaching the year-end, most primary lead smelters have completed their sales plans for the month. Meanwhile, due to considerations of capital recovery and financial closing, market circulation offers decreased. Secondary lead smelters raised raw material offers to a limited extent, and the raw material side has been in the off-season for retirement. Most waste lead-acid battery suppliers accumulated inventory in warehouses, waiting for higher prices, leading to a decline in raw material arrivals at secondary lead smelters. Recently, many downstream battery enterprises focused on digesting their own inventory, with weak active purchase willingness. Lead prices are expected to continue fluctuating slightly, and subsequent attention should be paid to the restocking space for secondary lead smelters and battery plants before the New Year's Day holiday.
Data source statement: Except for public information, other data are processed by SMM based on public information, market communication, and relying on SMM's internal database model, for reference only and do not constitute decision-making advice.
