SMM Lead Market Morning Comment (Jul 31)

Overnight, LME lead opened at $2,038.5/mt, fluctuated downward during the Asian session, dipped to $2,030/mt in the European session, and after a slight consolidation, closed at $2,035.5/mt, down $27/mt, a decrease of 1.31%.

Overnight, the most-traded SHFE 2409 lead contract opened at 18,460 yuan/mt, slightly consolidated at the beginning of the session, and then climbed to a high of 18,970 yuan/mt. It slightly fell to around 18,800 yuan/mt, and closed at 18,835 yuan/mt, up 145 yuan/mt, an increase of 0.78%.