SMM March 6, 2025 News
During the day, the most-traded SHFE lead 2504 contract opened at 17,415 yuan/mt, briefly touched a high of 17,440 yuan/mt in early trading, marking a three-month high. It fluctuated around 17,400 yuan/mt during the session and finally closed at 17,410 yuan/mt, up 0.49%, with an open interest of 48,152 lots.
This week coincided with the "Two Sessions," during which numerous policies aimed at boosting the economy were announced. Base metals broadly turned positive, and SHFE lead also broke away from the recent tug-of-war between bulls and bears in the latter half of the week. As lead prices rose, downstream enterprises' pessimistic sentiment about the market outlook eased somewhat, and they gradually made purchases as needed. Meanwhile, inventories in warehouses in the Jiangsu and Zhejiang regions, the main consumption areas for lead, reversed to a decline. Overall, in the short term, lead prices are likely to fluctuate upward.
