Core Viewpoint - Recent lead prices have shown a slight recovery, influenced by inventory levels, cost factors, and macroeconomic conditions [1] Inventory Factors - As of December 2, the average spot price for lead was 17,000 yuan/ton, with a month-on-month increase of 50 yuan/ton (0.29%) and a year-on-year decrease of 125 yuan/ton (0.73%) [1] - Downstream demand has led to a reduction in domestic warehouse receipts, with current lead ingot warehouse receipts on the Shanghai Futures Exchange being less than 20,000 tons, which has provided some support for lead prices [1] Cost Factors - The price of recycled batteries had previously faced downward pressure, making it difficult for recyclers to purchase at low prices, but there has been a slight recovery in battery prices, which has supported the bottom line for lead prices [1] Macroeconomic Factors - Expectations for a Federal Reserve interest rate cut in December have increased, leading to a weaker US dollar, which has generally supported the performance of non-ferrous metals [1] - However, there are short-term expectations of weakening demand, which may limit the upward potential for lead prices [1]
电解铅：多重因素支撑，铅价重心回升
Sou Hu Cai Jing·2025-12-03 02:16