SHANGHAI, November 7(SMM) –
LME lead opened at $2167/mt overnight, and once hit one-month high of $2194/mt due to weaker US dollar. Yet, high stocks caused LME lead to erase some gains later, closing at $2186/mt, up just 0.62%.
SHFE 2312 lead contract opened at 16550 yuan/mt overnight. Inventory build-up and expectations for output cuts co-exist. SHFE lead fell along with LME lead to 16455 yuan/mt initially, but then rebounded, closing up 0.36% at 16560 yuan/mt. Open interest added 635 lots to 66595 lots.
