Core Viewpoint - The lead market is experiencing a significant price increase due to limited supply and low social inventory, despite concerns about downstream demand as temperatures drop [1] Supply and Demand Dynamics - Lead prices on the Shanghai Futures Exchange rose sharply, with the main contract increasing by over 3% at one point and closing with a gain of 2.68% [1] - Supply constraints are exacerbated by new regulations in Hebei, restricting the entry of certain vehicles into factories, impacting the transportation of raw materials and finished products [1] - The production of recycled lead is expected to recover as companies resume operations, but current supply remains limited, with social inventory still at low levels [1] Market Sentiment and Price Forecast - According to Guotou Futures, there is a coexistence of reduced primary lead production and insufficient recovery in recycled lead production, leading to a strong performance in Shanghai lead prices [1] - Market concerns about weakening consumption due to colder weather and expectations of overseas lead supply additions are creating pressure on the rebound of lead prices, resulting in increased market divergence [1] - The forecast for lead prices is expected to oscillate within the range of 16,500 to 17,300 yuan per ton [1]
沪铅大幅拉升 触及近七个月高位【沪铅收盘评论】
Wen Hua Cai Jing·2025-10-23 09:49