铅：库存持续下降，支撑价格

Group 1: Report Industry Investment Rating - No relevant content provided Group 2: Core Viewpoints of the Report - The continuous decline in lead inventory supports the price [1] Group 3: Summary by Related Catalogs Fundamental Tracking - Price and Volume: The closing price of the main contract of Shanghai lead was 17,090 yuan/ton, up 0.15%; the closing price of the LME 3M electronic disk of lead was 2,002.5 dollars/ton, up 0.18%. The trading volume of the main contract of Shanghai lead was 46,256 lots, an increase of 2,927 lots; the trading volume of LME lead was 4,762 lots, an increase of 174 lots [1]. - Position and Spread: The open interest of the main contract of Shanghai lead was 62,847 lots, an increase of 1,776 lots; the open interest of LME lead was 159,664 lots, a decrease of 466 lots. The premium of Shanghai 1 lead was -10 yuan/ton, unchanged; the LME CASH - 3M premium was -40.08 dollars/ton, an increase of 2.05 dollars/ton [1]. - Inventory and Other Data: The inventory of Shanghai lead futures was 35,584 tons, a decrease of 2,576 tons; the LME lead inventory was 219,550 tons, a decrease of 175 tons. The price of waste electric vehicle batteries was 9,975 yuan/ton, unchanged; the LME lead cancelled warrants were 22,275 tons, an increase of 4,150 tons [1]. News - The GDP growth rate of the United States in the second quarter was revised up to 3.8%, reaching a two - year high, and the PCE price index was 2.6%. The stronger - than - expected GDP growth rate and the decline in the number of initial jobless claims increased the uncertainty of the Fed's future interest - rate cut path, and the market's expectation of an interest - rate cut in October cooled [1]