Spot Market Improves Before Chinese New Year, LME Lead Rises 1.38% Overnight [SMM Lead Morning Brief]

SMM January 7:

Overnight, LME lead opened at $1,925/mt, briefly touched a low of $1,924/mt in early trading before fluctuating upward. During the European session, LME lead reached a high of $1,955.5/mt and finally closed at $1,947.5/mt, up 1.38%.

Overnight, the most-traded SHFE lead 2502 contract opened higher with a gap at 16,795 yuan/mt, then fluctuated downward to a low of 16,705 yuan/mt. Supported by the upward movement of the US dollar, it rebounded and closed at 16,750 yuan/mt, up 0.09%.