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铅：国内库存增加，限制价格上涨
Guo Tai Jun An Qi Huo·2025-11-11 02:08

Report Summary 1) Report Industry Investment Rating No information provided. 2) Core View of the Report Domestic inventory increase restricts the price increase of lead [1]. 3) Summary by Relevant Catalogs Fundamental Tracking - Prices: The closing price of the main contract of Shanghai lead was 17,505 yuan/ton, up 0.49%; the closing price of the LME 3M electronic disk of lead was 2,045 dollars/ton, up 0.42% [1]. - Volumes: The trading volume of the main contract of Shanghai lead was 31,610 lots, an increase of 4,404 lots; the trading volume of LME lead was 10,307 lots, an increase of 3,259 lots [1]. - Open Interests: The open interest of the main contract of Shanghai lead was 58,725 lots, a decrease of 1,093 lots; the open interest of LME lead was 151,524 lots, a decrease of 1,470 lots [1]. - Premiums and Discounts: The premium of Shanghai 1 lead was 0 yuan/ton, unchanged; the LME CASH - 3M premium was -8.5 dollars/ton, an increase of 24.5 dollars/ton [1]. - Inventory: The inventory of Shanghai lead futures was 23,195 tons, an increase of 1,292 tons; the LME lead inventory was 202,200 tons, a decrease of 1,500 tons [1]. - Prices of Related Products: The price of waste electric vehicle batteries was 10,025 yuan/ton, unchanged; the price of recycled refined lead was 17,275 yuan/ton, an increase of 75 yuan/ton [1]. - Profits and Losses: The spot import profit and loss of lead ingots was -459.17 yuan/ton, a decrease of 98.07 yuan/ton; the import profit and loss of Shanghai lead continuous three - contract was -286.68 yuan/ton, a decrease of 66.93 yuan/ton; the comprehensive profit and loss of recycled lead was 299 yuan/ton, an increase of 77 yuan/ton [1]. News - The State Council General Office issued 13 measures to further promote private investment, including expanding access, removing bottlenecks, and strengthening safeguards [1]. - The US government is expected to end the shutdown, and the S&P and Nasdaq, two major US stock indices, posted their largest gains in five months [1]. Lead Trend Intensity The lead trend intensity is 0, indicating a neutral view [1].