SMM Lead Market Morning Comment (July 17)

Overnight, LME lead opened at $2,190/mt, briefly touched a high of $2,197/mt during the Asian session, and then fluctuated downward. In the European session, the dollar first weakened and then strengthened, causing LME lead to plunge to a low of $2,168.5/mt. In the night session, it rebounded, driven by the upward movement of SHFE lead, closing at $2,189/mt, down by 0.11%.

Overnight, the most-traded SHFE lead contract 2408 opened at 19,700 yuan/mt, briefly touched a low of 19,670 yuan/mt at the beginning of the session, and then rebounded due to increased positions by bulls, reaching a high of 19,855 yuan/mt. It closed at 19,805 yuan/mt, up by 0.43%.