Overseas Lead Inventory Declines Last Friday, Lead Prices Rise First and Then Fall [SMM Lead Morning Comment]

Last Friday, LME lead opened at $2,274/mt, fluctuating around $2,285/mt during the Asian session. Entering the European session, due to continuous declines in LME lead inventory, LME lead rose to $2,313/mt in the evening, then fell back to a low of $2,253/mt, and finally closed at $2,273.5/mt, down 0.26%.

Last Friday night, the most-traded SHFE lead contract opened at ¥18,840/mt, briefly touching a high of ¥18,940/mt. Dragged down by the decline in LME lead, SHFE lead fell to a low of ¥18,640/mt at the end of the trading session, and finally closed at ¥18,725/mt, down 0.19%.