SHFE Lead Rolls Over to 2701 Contract, Trading Center Continues to Shift Lower [SMM Lead Morning Update]

Published: Nov 11, 2026 09:00 (GMT+8)

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[SMM Lead Morning Update: SHFE Lead Rolls Over to 2701 Contract, Trading Center Continues to Shift Downward] SMM, November 11: Overnight, the most-traded SHFE lead 2701 contract opened at 15,750 yuan/mt. In early trading, SHFE lead briefly dipped to 15,680 yuan/mt, but as lead ingot inventory remained at low levels...

SMM, November 11:

Overnight, LME lead opened at $1,891.5/mt. The US October CPI exceeded expectations across the board, hitting the threshold for a significant rate hike mentioned by Waller. The US dollar index rose sharply, while LME lead drifted lower throughout the day, with losses widening especially at night to a low of $1,877/mt. By the close, LME lead settled at $1,883/mt, down 0.48%.

Overnight, the most-traded SHFE lead 2701 contract opened at 15,750 yuan/mt. In early trading, SHFE lead briefly dropped to 15,680 yuan/mt, then halted losses and rebounded as lead ingot inventory remained low, consolidating narrowly around 15,800 yuan/mt before settling at 15,785 yuan/mt, down 0.72%. Open interest stood at 71,361 lots, an increase of 2,460 lots from the previous trading day.

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