SMM Lead Market Morning Comment (Aug 22)

Overnight, LME lead opened at $2,059/mt and then fluctuated upwards. During the European session, it reached a high of $2,090/mt before slightly consolidating, and finally closed at $2,090/mt, up $29/mt, an increase of 1.41%.

Overnight, the most-traded SHFE lead 2409 contract opened at 17,680 yuan/mt. After initially declining to a low of 17,470 yuan/mt, it rebounded to near the intraday moving average and consolidated, finally closing at 17,545 yuan/mt, down 75 yuan/mt, a decrease of 0.43%.