沪铅期货日报-20260110

1. Report Information - Report Date: January 7, 2026 [1] - Report Cycle: Daily Report [1] - Researcher: Du Yu (Qualification Number: F3075043; Investment Consulting Certificate Number: Z0017815) [1] - Report Name: Shanghai Futures Daily [1] 2. Futures Market - On January 7, 2026, the lead futures main contract (Wind code: PB.SHF) on the Shanghai Futures Exchange showed strong performance, with a closing price of 17,830 yuan/ton, up 1.83% from the previous trading day [2] - The trading volume significantly increased to 83,341 lots, a 46.5% increase from the previous trading day's 56,885 lots, indicating a significant increase in market trading activity [2] - The open interest was 52,009 lots, a slight increase of 1,009 lots or about 2.0% from the previous trading day's 51,000 lots [2] - The settlement price was 17,690 yuan/ton, lower than the closing price, indicating an optimistic market sentiment, but some long - positions took profits at the end of the session [2] - The lead futures showed an oscillating upward trend on that day, mainly boosted by the market's growth expectation for the technology hardware and new energy vehicle industries, and the overall price - rising atmosphere of industrial resources also supported the lead price [2] 3. Spot Market Basis Analysis - On January 7, 2026, the lead futures basis was - 240 yuan/ton, with a basis rate of - 1.3644%, showing a futures premium pattern [3] - The average price of 1 lead in the spot market on that day was 17,590 yuan/ton, and the futures closing price was 17,830 yuan/ton, with the futures price higher than the spot price [3] - Looking back at the recent basis changes, the basis briefly narrowed to - 5 yuan/ton on January 5, indicating that the futures and spot prices were once close to balance, but it expanded again to - 80 yuan and - 240 yuan on January 6 and 7, reflecting the enhanced optimistic expectation of the futures market for the long - term lead price [3]