LME lead resumed trading and closed up 0.52%, SHFE lead stopped falling and stabilized, recording a small bullish candlestick [SMM Lead Morning News]

SMM, September 2:

Overnight, the LME lead 3M contract opened at $1,905/mt on September 1, trading in a range of $1,902-1,920/mt throughout the day. During Asian trading hours, it consolidated between $1,905/mt and $1,912/mt. In the European session, it drifted lower, dipping to a low of $1,902/mt. After entering the overlapping European and US trading hours, it quickly shot up, reaching a high of $1,920/mt. Near the close, it retreated from highs and finally settled at $1,915/mt, up $10/mt from the previous trading day's closing price, a gain of 0.52%. Trading volume was 7,508 lots, and open interest was 172,264 lots.

Overnight, the SHFE lead 2610 contract stopped falling and stabilized in the night session, rebounding slightly. It opened at 16,160 yuan/mt, briefly dipped to 16,115 yuan/mt after the open, then consolidated higher. After 23:00, it shot up to 16,235 yuan/mt, then pulled back slightly from highs, and finally settled at 16,185 yuan/mt, up 25 yuan/mt from the previous trading day's closing price, a gain of 0.15%, forming a small bullish candlestick. Night session trading volume was 27,369 lots, and open interest was 65,629 lots.