SMM Lead Market Morning Comment (June 5)

Published: Jun 5, 2023 10:14

Source: SMM

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SHANGHAI, Jun 5 (SMM) – LME lead opened at $2,100.5/mt last Friday, and rebounded above $2,030/mt as the US dollar softened amid expectations that the US would pause interest rate hike.

SHANGHAI, Jun 5 (SMM) – LME lead opened at $2,100.5/mt last Friday, and rebounded above $2,030/mt as the US dollar softened amid expectations that the US would pause interest rate hike. LME lead closed up 1.44% at $2,036/mt. The most-traded SHFE 2307 lead contract opened at 15,070 yuan/mt at last Friday’s night session. Growing lead ingot stocks at delivery warehouses curbed gains of lead prices. The contract closed up 0.3% at 15,095 yuan/mt. Open interest fell 1,357 lots to 58,212 lots.

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