LME and SHFE lead prices hit new lows

SHANGHAI, Oct 16 (SMM) - Last Friday, LME lead opened at $2062.5/mt. During the Asian trading session, prices basically fluctuated between $2060/mt and $2075/mt. During the European session, the US dollar strongly suppressed non-ferrous metals, and LME lead plummeted. In addition, LME lead inventories continued to increase, and LME lead continued its weak decline, reaching as low as $2,040/mt during the period, setting a new three-month low. The contract finally closed at $2,051/mt, a decrease of 0.44%.

Last Friday, domestic lead ingot inventories were accumulated. The most active SHFE lead contract prices opened as low as 16,160 yuan/mt, with the lowest of 16,080 yuan/mt, falling to a new low in nearly a month and a half. The contract closed at 16150 yuan/mt, a decrease of 0.58%. Open interest stood at 85111 lots, a growth of 2275 lots from the previous trading day.