Latest Update in the SMM Lead Market

According to an SMM survey, as of November 21, the total social inventory of lead ingots in five regions tracked by SMM stood at 64,400 mt, a decrease of 19,900 mt compared to November 14, and a decrease of 20,600 mt compared to November 18.

According to customs data, in October 2024, refined lead exports were 1,886 mt, up 110.83% MoM but down 90.63% YoY.

Overnight, LME copper opened at $9,118.5/mt, initially rising to $9,155/mt before fluctuating downward, hitting a low of $9,086/mt at the end of the session, and finally closing at $9,082/mt, a decline of 0.38%.

Overnight, LME lead opened at $2,012/mt.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on Nov 20, 2024

According to an SMM survey, from January to September 2024, the cumulative production of silver by-products from lead smelters increased by 6.47% YoY.

LME copper opened at $9,047/mt overnight, initially dipping to $9,022.5/mt before fluctuating upward to a high of $9,123.5/mt at the close, finally settling at $9,117/mt with an open interest of 273,000 lots.

Overnight, LME lead opened at $1,992.5/mt.