LME lead center moved higher and hit a near two-week high [SMM Lead Morning Report]

Published: Aug 12, 2026 09:01

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[SMM Lead Morning Brief: LME Lead Operating Center Moves Higher and Hits Near Two-Week High] SMM August 12 News: Overnight, LME lead opened at $1,901.5/mt, extended the previous session's drift higher, and the operating center moved higher again...

SMM, August 12:

Overnight, LME lead opened at $1,901.5/mt, continuing its drift higher from the previous trading day, with its trading center moving further up. The contract hit an intraday high of $1,909/mt, the highest level in nearly two weeks. During the latter part of the session, LME lead mostly traded above $1,900/mt, eventually closing at $1,903/mt, up 0.13%.

Overnight, the most-traded SHFE lead 2609 contract opened at 15,905 yuan/mt. Pressured by an increase in warrant inventory, SHFE lead turned downward after the open, falling to around 15,830 yuan/mt. Subsequently, as bears reduced their positions, SHFE lead consolidated in the range of 15,845-15,900 yuan/mt, finally closing at 15,860 yuan/mt, down 0.28%. Open interest stood at 48,043 lots, a decrease of 3,480 lots from the previous trading day. In addition, open interest in the SHFE lead 2609 contract has been gradually transferring to the SHFE lead 2610 contract, with the latter's open interest currently at 67,587 lots. Attention should be paid to the upcoming switch of the most-traded contract.

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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