SMM Lead Market Morning Comment (July 5)

Publié: Jul 5, 2024 09:57
Source: SMM
Overnight, LME lead opened at $2,224.5/mt.

Overnight, LME lead opened at $2,224.5/mt. The US dollar index continued to decline, and LME lead moved rangebound at a high level throughout the day, with its price center shifting upward compared to the previous trading day. During this period, although the lead inventory accumulation caused a slight pullback in LME lead's upward trend, it ultimately closed at $2,232/mt, up by 0.65%.

Overnight, the most-traded SHFE lead 2408 contract opened at 19,520 yuan/mt. Domestic supply remained tight while import expectations persisted. After the opening, SHFE lead twice attempted to break above 19,800 yuan/mt but failed, resulting in significant fluctuations in the market. In the night session, SHFE lead gave back some of its gains and ultimately closed at 19,715 yuan/mt, up by 1.05%. Its open interest reached 92,734 lots, an increase of 4,499 lots compared to the previous trading day.

Déclaration sur la source des données : À l'exception des informations publiques, toutes les autres données sont traitées par SMM sur la base d'informations publiques, d'échanges avec le marché et en s'appuyant sur le modèle de base de données interne de SMM. Ils sont fournis à titre indicatif uniquement et ne constituent pas des recommandations décisionnelles.

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