Overnight, LME lead opened at US$2,049.5/ton. During the Asian session, LME lead trading was flat, basically fluctuating between US$2,045 and US$2,055/ton. Entering the European session, concerns about conflicts in the Middle East escalated, and LME lead inventories increased to over 90,000 tons. LME lead plummeted to as low as US$2029/ton, setting a new low in nearly 4 months. Then the U.S. dollar reversed course and fell, basic metals generally rebounded, and LME lead finally closed at $2,077.5/ton, an increase of 1.29%.
The most active SHFE 2311 lead contract prices opened at 16135 yuan/mt last evening and finally closed at 16185 yuan/mt, up 0.15%. Open interest decreased 2577 lots to 79297 lots.
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