SMM Lead Morning Comments        

SHANGHAI, Feb 2 (SMM) -

Overnight, LME lead opened at US$2,175.5/ton. LME lead stocks increased by more than 3,000 tons, dragging down LME lead to a low of US$2146.5/ton. The Federal Reserve did not adjust interest rates as scheduled, the US dollar fell sharply, and LME lead stopped falling and repaired some of its losses, finally closing at US$2,162/ton, a decrease of 0.73%.

Overnight, the most active SHFE 2403 lead contract opened at 16210 yuan/mt. Due to the weaker consumption, the prices lead dropped to a 3-week low of 16120 yuan/mt. The contract closed at 16190 yuan/mt, a decrease of 0.43%. Open interest stood at 62538 lots, a decrease of 1812 lots from the previous trading day.