The Most-Traded SHFE Lead 2604 Contract Closed With a Small Bearish Candlestick; It Is Expected to Maintain a Fluctuating Trend in the Short Term [Lead Futures Brief Commentary]

SMM, March 3:

During the day, the most-traded SHFE lead 2604 contract opened at 16,845 yuan/mt. Affected by market sentiment and weak spot transactions, lead prices fluctuated downward, touching an intraday low of 16,825 yuan/mt near the close, and finally settled at 16,840 yuan/mt, ending a four-day winning streak and posting a small bearish candlestick. It fell 55 yuan/mt from the previous trading day, a decline of 0.33%. Inventory buildup pressure for lead ingots at smelters remains, coupled with a downstream consumption recovery that fell short of expectations, leaving market sentiment bearish. According to SMM analysis, lead prices are expected to maintain a fluctuating trend in the short term.

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