SMM, December 31:
Overnight, LME lead opened at $1,966.5/mt. With bears increasing their positions, LME lead came under pressure from the intraday moving average, fluctuating downward to a low of $1,945/mt, and finally closed at $1,946/mt, down by $20/mt or 1.02%.
Overnight, the most-traded SHFE lead 2502 contract opened at 16,790 yuan/mt, briefly touching a high of 16,810 yuan/mt at the beginning of the session before weakening again to a low of 16,740 yuan/mt. It then rebounded to close at 16,775 yuan/mt, down by 55 yuan/mt or 0.33%.
