Group 1 - The core viewpoint of the article highlights the current state of the lead market, including spot and futures prices, inventory levels, and strategic recommendations for trading [1] Group 2 - On August 5, 2025, LME lead spot premium was reported at -47.86 USD/ton, while SMM 1 lead ingot spot price decreased to 16,600 CNY/ton, a drop of 100 CNY/ton compared to the previous change [1] - The Shanghai lead futures market saw the main contract open at 16,750 CNY/ton and close at 16,775 CNY/ton, reflecting an increase of 25 CNY/ton [1] - Total SMM lead ingot inventory was 72,000 tons, a decrease of 0.11 million tons from the previous week, while LME lead inventory stood at 272,975 tons, down by 1,100 tons [1] Group 3 - The article suggests a cautious bullish strategy, recommending to attempt buying on dips within the range of 16,000 - 16,300 CNY/ton for hedging purposes, while advising to pause on arbitrage strategies [1] - Risks mentioned include a significant increase in domestic supply, lower-than-expected consumption, and tightening overseas liquidity [1]