Overnight, LME lead opened at $2,201/mt. With the weakening of the US dollar index, most base metals prices rebounded. Meanwhile, LME lead inventory decreased by 3,200 mt. LME lead stayed at highs throughout the day. Although it fell below the $2,200/mt mark during the session, it quickly rebounded and finally closed at $2,217.5/mt, up by 0.73%.
Overnight, the most-traded SHFE lead 2408 contract opened at 19,500 yuan/mt. Affected by the opening of the lead ingot import window and the reduction in domestic secondary lead production, after the opening, the market was in a tug-of-war between bulls and bears. With SHFE lead hovering around 19,500 yuan/mt for most of the session, finally closing at 19,510 yuan/mt, down by 0.2%. Its open interest reached 90,434 lots, a decrease of 1,599 lots compared to the previous trading day.
