Both LME and SHFE Lead Prices Remain Low Despite Falling US Dollar Index

SHANGHAI, Mar 7 (SMM) - Overnight, LME lead opened at $2,109/mt. The US dollar index fluctuated downward and the LME lead rose to $2,140/mt, but then fell and fluctuated between $2,105-2,140/mt. LME lead finally closed at $2,105.5/mt, a decrease of 0.59%.

The most-traded SHFE 2303 lead contract opened at 15,280 yuan/mt overnight amid the increasing domestic and overseas inventory. SHFE lead remained at 15,250-15,280 yuan/mt for a long time amid the long-short game and finally closed at 15,255 yuan/mt, down 0.16%, with the open interest up 61 lots to 61,134 lots.