铅：内外库存持续减少，支撑价格

Group 1: Core View - The continuous decrease in internal and external lead inventories supports the price [1] Group 2: Fundamental Tracking Price and Volume - The closing price of the main Shanghai lead futures contract was 17,350 yuan/ton, a decrease of 0.03%; the closing price of the LME 3M electronic lead contract was 2,019 dollars/ton, a decrease of 0.30% [1] - The trading volume of the main Shanghai lead futures contract was 39,452 lots, a decrease of 6,873; the trading volume of LME lead was 6,134 lots, an increase of 299 [1] - The open interest of the main Shanghai lead futures contract was 69,287 lots, a decrease of 4,231; the open interest of LME lead was 153,088 lots, an increase of 318 [1] Premium and Discount - The premium of Shanghai 1 lead was 30 yuan/ton, an increase of 10; the LME CASH - 3M premium was -35.12 dollars/ton, a decrease of 4.12 [1] - The PB00 - PB01 spread was 10 yuan/ton, a decrease of 5; the import premium was 90 dollars/ton, unchanged [1] Import Profit and Loss - The spot import profit and loss of lead ingots was -188.65 yuan/ton, a decrease of 27.3; the import profit and loss of the third - consecutive Shanghai lead futures contract was -138 yuan/ton, a decrease of 15.43 [1] Inventory - The Shanghai lead futures inventory was 21,645 tons, a decrease of 1,352; the LME lead inventory was 224,175 tons, a decrease of 700 [1] - The LME lead cancelled warrants were 141,425 tons, a decrease of 5,025 [1] Other Data - The price of waste electric vehicle batteries was 10,025 yuan/ton, unchanged; the price of recycled refined lead was 17,150 yuan/ton, unchanged [1] - The comprehensive profit and loss of recycled lead was 160 yuan/ton, unchanged [1] Group 3: News - Xi Jinping met with US President Trump in Busan, and the China - US economic and trade teams reached consensus on three aspects of achievements [1] - The European Central Bank "stood pat" for the third time, keeping the deposit rate at 2% unchanged, and the economic resilience withstood the trade headwinds [1] Group 4: Lead Trend Intensity - The lead trend intensity was 0, indicating a neutral view. The trend intensity ranges from -2 to 2, with -2 being the most bearish and 2 being the most bullish [1]