The most-traded lead contract has completed its rollover, and SHFE lead consolidates on a weak note, awaiting guidance from the new most-traded contract [Lead Futures Brief Review]

SMM, October 16:

Intraday, the most-traded SHFE lead 2611 contract opened at 16,215 yuan/mt, shot up slightly in early trading, then consolidated and pulled back in the afternoon, with the price center trending lower toward the close. It dipped to a low of 16,030 yuan/mt before finally settling at 16,140 yuan/mt, down 75 yuan/mt or 0.46% from the previous trading day's closing price. Trading volume totaled 46,511 lots, and open interest stood at 40,977 lots, down 4,358 lots. The daily candlestick closed as another small bearish candle. Approaching the weekend, downstream enterprises were cautious in purchasing, mainly purchasing as needed and taking delivery under long-term contracts, with overall trading maintaining a slight premium. The most-traded SHFE lead contract has now completed its rollover, officially switching to the 2612 contract. In the short term, SHFE lead is expected to consolidate on a weak note, with direction awaiting guidance from the new most-traded contract. Market participants may focus on volume and open interest changes in the SHFE lead 2612 contract.

Data source statement: Except for publicly available information, all other data are processed by SMM based on public information, market communication, and SMM's internal database models, and are for reference only, not constituting decision-making advice.