Tight domestic supply supports lead prices [SMM Lead Morning Comment]

Overnight, LME lead opened at $2212.5/ton and fluctuated sideways in the Asian session; entering the European session, due to the rise and then decline of the US dollar index, LME lead briefly fell and then rose to $2218.5/ton. In the late trading, short positions increased and LME lead weakened and fell to $2187/ton, and finally closed at $2191.5/ton, a drop of 0.93%.

Overnight, the most active SHFE 2408 lead contract opened high at 19265 yuan/ton, touched the high of 19340 yuan/ton at the beginning of the session, and fluctuated around 19265 yuan/ton after a slight decline. The lowest during the period was 19215 yuan/ton, and prices finally closed at 19265 yuan/ton, an increase of 0.73%.