SMM, January 10, 2025
— During the day, the most-traded SHFE lead 2502 contract opened at 16,410 yuan/mt, fluctuated upward after the opening to a high of 16,630 yuan/mt, and finally closed at 16,600 yuan/mt, up 0.18%. A doji candlestick with a bearish close was recorded today, with an open interest of 38,847 lots.
Social inventory of lead ingots continued to decline, while the delivery date for the SHFE lead 2501 contract is approaching next week, raising the possibility of transferring delivery warehouse stocks. Due to the increasing impact of the Chinese New Year on the market, downstream enterprises are on holiday, and logistics and transportation vehicles are gradually decreasing. It is expected that the volume of lead ingots delivered this round will not be significant. In the near term, lead prices still require attention to downstream pre-holiday stockpiling activities.
