Today, SHFE 2311 lead contract prices opened at 16765 yuan/mt and closed down 1.08% at 16760 yuan/mt. Open interest increased by 9334 lots from the previous trading day to 95280 lots, and trading volumes fell 53279 lots to 166,000 lots.
Most downstream companies have completed pre-holiday stockpiling. The supply of goods circulating in the spot market decreased, and the quotations of sellers are firm. Market trading was light.
The most-traded SHFE lead contract will move rangebound in the short term on a stable macro front.

![상하이 선물거래소 연, 상단 그림자 길게 남기며 0.03% 하락, 고점 횡보 국면 유지 [연 선물 단평]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)

