Decreased Capital Activity, SHFE Lead Trends Weaker Before the Holiday [Lead Futures Brief Review]

SMM February 12 News:

The most-traded SHFE lead 2603 contract opened at 16,760 yuan/mt during the day, briefly rising to 16,785 yuan/mt. Due to the decline in both supply and demand in the spot market, lead prices lacked support, and SHFE lead fluctuated downward, probing a low of 16,685 yuan/mt, before finally closing at 16,695 yuan/mt, recording a small bearish candlestick with a decline of 0.27%. Trading volume was 29,928, and open interest was 32,162. As the Chinese New Year approaches, most participants in the lead industry chain have entered the holiday period, coupled with a decline in capital activity. SMM expects SHFE lead to be in the doldrums before the holiday.

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