The US dollar index rebounded, coupled with concerns over demand, causing LME lead to drop more than 2% overnight [SMM Lead Morning Comment]

Overnight, LME lead opened at a high of $2,124/mt and declined during the Asian session. Due to the rebound of the US dollar index and concerns over demand, LME lead continued to weaken during the European session, eventually closing at a low of $2,070.5/mt, a decrease of 2.61%.

Overnight, the most-traded SHFE lead 2410 contract opened at 17,310 yuan/mt, briefly touched a low of 17,275 yuan/mt at the beginning of the session, rebounded to a high of 17,465 yuan/mt, and closed at 17,395 yuan/mt, a decrease of 0.88%.