Group 1 - The domestic futures market for non-ferrous metals is mostly in the red, with lead futures showing a downward trend, reaching a low of 17,170.00 yuan/ton and a decline of approximately 2.33% [1] - The current market sentiment indicates a shift towards strong supply and weak demand, with primary lead production recovering as smelters in Hunan and Jiangxi resume operations [1] - The consumption side is experiencing a traditional off-season, with demand for lead-acid batteries not meeting expectations, leading to high inventory levels [1] Group 2 - The lead concentrate processing fees remain low, and the supply of waste batteries is tight, providing some support for lead prices [2] - The overall production of primary lead is stable, while the recovery of recycled lead is limited due to environmental controls in some regions [2] - Battery sales are poor, leading to an accumulation of finished battery inventory, which may result in battery manufacturers reducing their operating rates [2]
后市累库压力增加 短期内沪铅期价或承压运行
Jin Tou Wang·2026-01-19 06:05