Market Risk-Off Sentiment Eases; LME Lead and SHFE Lead Largely Recover Previous Day's Losses [SMM Lead Morning Brief]

Published: Jul 17, 2026 09:01

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[SMM Lead Morning Report: Market risk-averse sentiment eased, LME lead and SHFE lead basically recovered the previous day's decline] SMM July 17 news: Overnight, LME lead opened at $1,851/mt, bearish news outside China was exhausted, bears gradually reduced positions, and LME lead drifted higher throughout the day...

SMM July 17 news:

Overnight, LME lead opened at $1,851/mt. With bearish news from overseas exhausted, bears gradually reduced their positions. LME lead drifted higher throughout the day, largely recovering all the previous day's losses. It reached a high of $1,878.5/mt during the session before closing at $1,869/mt, up 1%.

Overnight, the most-traded SHFE lead 2609 contract opened at 15,700 yuan/mt. China's lead ingot inventory shifted from increase to decrease, and some bearish funds exited. After opening, SHFE lead rose sharply, moving above 15,800 yuan/mt and briefly attempting to approach 15,900 yuan/mt. It finally closed at 15,840 yuan/mt, up 1.57%; open interest was 119,000 lots, up 2,690 lots from the previous trading day.

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