SHFE lead opened lower overnight, LME lead market resumed trading on Tuesday [SMM Lead Morning Comment]

LME was closed on Monday due to the UK summer bank holiday and resumed trading on Tuesday.

Overnight, the most-traded SHFE lead 2409 contract opened lower at 17,750 yuan/mt, briefly touched a high of 17,795 yuan/mt at the beginning of the session, weakened to 17,570 yuan/mt as bulls reduced their positions, and closed at 17,640 yuan/mt, up 0.11%.