Overnight LME Lead Rebounded to Make Up Gains, While SHFE Lead Closed for Chinese New Year Holiday [SMM Lead Morning Brief]

SMM February 5:

Overnight, LME lead opened at $1,945/mt, fluctuated rangebound during the Asian session; entered the European session fluctuating downward to a low of $1,940/mt. By the end of the session, as the US dollar weakened, resistance was released, leading to a rebound and recovery, reaching a high of $1,973.5/mt, and finally closing at $1,969.5/mt, up 1.26%.

Due to the Chinese New Year holiday, SHFE lead was closed and will resume trading on Wednesday.