SMM Sept. 12:
The most-traded SHFE lead 2510 contract opened at 16,900 yuan/mt. Against the backdrop of a broad rally in nonferrous metals, the contract showed strong performance in the afternoon, with prices steadily climbing and successfully breaking through the key resistance level of 17,000 yuan/mt. However, after hitting a high of 17,120 yuan/mt, the contract encountered significant selling pressure, leading to a partial retreat of gains. Prices fluctuated repeatedly near the 17,000 yuan/mt mark amid a fierce tug-of-war between longs and shorts, eventually closing at 17,040 yuan/mt, up 0.83%, with open interest at 52,188 lots.
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