Last Friday, SHFE lead night session closed at 16,175 yuan/mt, hitting a new high in recent months [SMM Lead Morning Brief].

SMM August 24 News:

Last Friday, the LME lead 3M contract fluctuated with an upward trend in the Asian session and then gradually pulled back after entering the European session, opening at $1,899/mt. It eventually closed at $1,901.0/mt, up $1.5/mt from the previous closing price, an increase of 0.08%. The highest price for the day was $1,908.5/mt and the lowest price was $1,894.5/mt, with a range of $14/mt. Trading volume stood at 5,665 contracts, and open interest was 174,878 contracts, an increase of 805 contracts from the previous trading day.

Last Friday, the SHFE lead 2610 contract drifted higher overall during the night session, opening at 16,080 yuan/mt, moving sideways in the 16,115-16,150 yuan/mt range, then rising to consolidate at highs of 16,150-16,155 yuan/mt, accelerating at the end of the session to hit a high of 16,175 yuan/mt, refreshing a new high in nearly one and a half months. It finally closed at 16,175 yuan/mt, up 45 yuan/mt from the previous trading day's closing price, an increase of 0.28%. Night session trading volume was 24,103 contracts, and open interest was 77,231 contracts.