Core Insights - On October 24, the spot price of lead ingots in Shanghai was quoted at 17,300.00 CNY/ton, reflecting a discount of 295.0 CNY/ton compared to the futures main contract price of 17,595.00 CNY/ton [1] - The International Lead and Zinc Study Group (ILZSG) reported that the global lead market is expected to shift to a supply shortage of 2,500 tons by August 2025, compared to a surplus of 10,800 tons in July 2025 [1] Market Overview - As of October 24, the closing price for the main lead futures contract on the Shanghai Futures Exchange was 17,595.00 CNY/ton, with a daily increase of 1.00%. The highest price reached was 17,635.00 CNY/ton, while the lowest was 17,440.00 CNY/ton, with a trading volume of 79,514 contracts [1] - On October 17, lead futures inventory recorded 41,701.00 tons, an increase of 1,785.00 tons from the previous trading day [2] Supply and Demand Analysis - According to Hongyuan Futures' research report, the overall lead market is experiencing an increase in both supply and demand. The uncertainty in the operation of recycled lead due to raw material issues is providing some support for lead prices, with expectations for short-term price stability within a range [2]
供需双增 预计短期铅价维持区间盘整
Jin Tou Wang·2025-10-24 08:57