Supply-demand weakness weighs on SHFE lead, retreats after rapid rise during the day [Futures Lead Brief Review]

SMM February 24 News:

During the day, the most-traded SHFE lead 2604 contract opened at around 16,855 yuan/mt. At the beginning of the session, driven by post-holiday market sentiment, it quickly surged, once hitting a high of 16,980 yuan/mt. Subsequently, due to weak supply and demand in the spot market, lead prices lacked sufficient support and fluctuated with a pullback, falling to a low of 16,620 yuan/mt. It finally closed at 16,670 yuan/mt, recording a small bearish candlestick, down 30 yuan/mt, a decrease of 0.18%.

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