Overnight LME Lead Shorts Closed Out, Lead Futures Stabilized Amid Fluctuations [SMM Lead Morning Brief]

SMM March 11 News:

Overnight, LME lead opened at $2,022.5/mt, fluctuated upward during the Asian session, and continued to rise as bears reduced positions and exited during the European session, reaching a high of $2,055/mt. Before the close, it dropped back slightly and finally settled at $2,040/mt, up by $24/mt, an increase of 1.19%.

Overnight, the most-traded SHFE lead 2504 contract opened at 17,520 yuan/mt, initially reaching a high of 17,555 yuan/mt before weakening downward to a low of 17,480 yuan/mt. It then moved upward to hover near the intraday moving average and eventually closed at 17,520 yuan/mt, up by 105 yuan/mt, an increase of 0.60%.