The Most-Traded SHFE Lead 2604 Contract Closed With a Small Bearish Candlestick; It Is Expected to Maintain a Fluctuating Trend in the Short Term [Lead Futures Brief Commentary]

Published: Mar 3, 2026 16:13

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SMM, March 3:

During the day, the most-traded SHFE lead 2604 contract opened at 16,845 yuan/mt. Affected by market sentiment and weak spot transactions, lead prices fluctuated downward, touching an intraday low of 16,825 yuan/mt near the close, and finally settled at 16,840 yuan/mt, ending a four-day winning streak and posting a small bearish candlestick. It fell 55 yuan/mt from the previous trading day, a decline of 0.33%. Inventory buildup pressure for lead ingots at smelters remains, coupled with a downstream consumption recovery that fell short of expectations, leaving market sentiment bearish. According to SMM analysis, lead prices are expected to maintain a fluctuating trend in the short term.

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

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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