SMM Lead Market Morning Comment (July 15)

Last Friday, LME lead opened at $2,195.5/mt, fluctuated downward during the Asian session, and dipped to $2,173.5/mt in the European session. Later, due to a weaker dollar, LME lead rebounded and closed at a high of $2,214/mt, up by 0.77%.

Last Friday night, the most-traded SHFE lead 2408 contract opened at a low of 19,480 yuan/mt. After the opening, bulls increased their positions, and SHFE lead rose firmly to 19,700 yuan/mt, closing at 19,695 yuan/mt, up by 0.87%.