SMM June 11 news: During the day, the most-traded SHFE lead 2607 contract opened at 16,095 yuan/mt. At the open, concentrated short-covering drove lead prices to fluctuate upward, with the intraday high touching 16,265 yuan/mt. In the afternoon, prices pulled back slightly, and near the close, they moved sideways within the 16,205–16,235 yuan/mt range, finally settling at 16,220 yuan/mt, up 90 yuan/mt, or 0.56%. Today's SHFE lead gains were mainly driven by short-covering. Fundamentals: secondary lead smelters have been slow to resume production, and some enterprises have cut or halted output due to losses and raw material issues, leaving supply-side factors mixed; downstream players mainly made just-in-time procurement, and spot transactions were sluggish. Fundamental support is weak, and lead prices are expected to maintain a fluctuating trend in the short term. Data source statement: Data other than publicly available information are processed by SMM based on public information, market communication, and SMM's internal database models. They are for reference only and do not constitute any decision-making advice.

SMM, June 10: The most-traded SHFE lead 2607 contract opened at 16,090 yuan/mt on the day. In early trading, SHFE lead prices moved sideways within 16,055-16,095 yuan/mt, dipping to a low of 16,055 yuan/mt. The price then fluctuated higher from mid-session to the close, ending at 16,130 yuan/mt, forming a bearish candlestick, down 40 yuan/mt, or 0.25%. Secondary lead smelters, weighed down by losses, chose to hold prices firm and delay shipments, while the cost of scrap battery raw materials provided bottom-level cost support. Overall end-use market consumption was sluggish; the recovery in consumption during the traditional peak season fell short of market expectations, and downstream enterprises took a conservative approach to procurement and stockpiling. With the Dragon Boat Festival holiday approaching, lead ingot procurement demand from battery plants remained sluggish, the pace of lead ingot inventory destocking was slow, inventory levels tended to stabilize, and the likelihood of inventory shifting into accumulation later on increased. Lead prices are expected to remain in the doldrums. Data source statement: Except for publicly available information, other data are based on public information, market communication, and SMM’s internal database models, and are processed by SMM. They are for reference only and do not constitute decision-making advice.

SMM, June 9: In the day's session, the most-traded SHFE lead 2607 contract opened at 16,205 yuan/mt, came under overall pressure and weakened after the open, fluctuated downward in morning trading to hit a low of 16,055 yuan/mt, then moved sideways at low levels around the 16,055–16,100 yuan/mt range. In the afternoon, it rebounded slightly with small fluctuations and closed at 16,170 yuan/mt at the end of the session, down 170 yuan/mt, or 1.04%, for the day. The current decline in lead prices is mainly under dual pressure from increased supply from secondary and primary lead smelters and the off-season for lead-acid battery consumption. Downstream participants maintain a strong wait-and-see sentiment, mostly purchasing as needed at lower prices. Meanwhile, social inventory of lead ingots shows a slight destocking trend, and coupled with tightening inventory of scrap battery raw materials for secondary lead, the cost side provides some support for prices. Lead prices are expected to remain in the doldrums in the near term. Data source statement: All data other than public information are processed by SMM based on public information, market communication, and SMM's internal database models, for reference only and do not constitute decision-making advice.

SMM June 5 news: LME lead started the week at $2,015/mt, was pulled up by bulls to $2,046/mt mid-week, then oscillated down after profit-taking pressure emerged, hitting a low of $2,003/mt. As of 3:00 pm Beijing time, it closed at $2,008.5/mt, down 0.15% for the week. SHFE lead contract 2607 opened at 16,580 yuan/mt, surged to a high of 16,720 yuan/mt mid-week, then fell consecutively to 16,365 yuan/mt as profit-takers exited, before rebounding slightly at the end to close at 16,405 yuan/mt, down 0.93% for the week.

SMM, June 4: The most-traded SHFE lead 2607 contract opened at 16,500 yuan/mt during the session. The market was in the doldrums throughout the day, with prices persistently under pressure below the intraday moving average. Prices dipped to a low of 16,390 yuan/mt during the session before rebounding slightly near the close, ultimately settling at 16,435 yuan/mt, down 210 yuan/mt or 1.26% for the day, forming a bearish candlestick. Dragged down by the collective weakness across non-ferrous metals, SHFE lead futures were under pressure and trended weak during the session. Currently, both primary lead and secondary lead supply continued to increase, suppressing lead prices from the supply side. Coupled with sluggish recovery in end-use demand, SHFE lead prices were under pressure. However, scrap battery raw material costs provided bottom support, effectively limiting the room for deeper declines. In the short term, lead prices are expected to remain in the doldrums. Data source disclaimer: Data other than publicly available information was derived by SMM through processing based on public information, market communication, and SMM's internal database models. It is for reference only and does not constitute decision-making advice.

SMM, June 3: The most-traded SHFE lead 2607 contract opened at 16,705 yuan/mt during the session. Lead prices edged down in the morning session, then moved sideways within the range of 16,605-16,680 yuan/mt. The market continued to oscillate around the daily moving average. Approaching the end of the session, prices came under pressure and moved lower, with the price center shifting below the daily moving average. The contract ultimately closed at 16,635 yuan/mt, posting a bullish candlestick, up 35 yuan/mt or 0.21%. Currently, primary lead and secondary lead enterprises are resuming production successively, and lead ingot supply is rising steadily. Downstream consumption recovery pace remains slow, and social inventory destocking has been hindered, putting periodic pressure on lead prices. However, LME lead prices fluctuating at highs provided support, and overall expectations are that China's lead prices will continue to move sideways within a range. Data source disclaimer: Data other than publicly available information is derived from publicly available information, market communication, and SMM's internal database models, processed by SMM for reference only and does not constitute decision-making advice.