Post-Holiday Market Sees Strong Wait-and-See Sentiment, SHFE Lead Fluctuates Rangebound [Futures Lead Brief Review]

SMM February 25:

The most-traded SHFE lead 2604 contract opened at 16,655 yuan/mt, fluctuated with wide swings around the 16,755 yuan/mt level, and finally closed at 16,735 yuan/mt, recording a small bullish candlestick. It rose by 65 yuan/mt, an increase of 0.39%. Due to the sluggish market atmosphere after the holiday, upward momentum is insufficient. Meanwhile, smelters' production resumptions after the holiday have increased demand for raw materials, providing underlying support for lead prices. The SHFE lead contract is expected to maintain a fluctuating trend during the night session.

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