SMM March 28 News:
This week, LME lead opened at $2,028.5/mt, briefly touched a low of $2,023/mt at the beginning of the session, and rose to a high of $2,094/mt mid-week due to the weakening of the US dollar index. As the center of the US dollar index shifted upward, LME lead came under pressure and weakened in the second half of the week. As of 16:30 on Friday, it finally closed at $2,029/mt, with a gain of 0.1%.
This week, the SHFE lead 2505 contract opened at 17,430 yuan/mt, touched a low of 17,380 yuan/mt at the beginning of the session, and surged to a high of 17,805 yuan/mt influenced by environmental protection events, favorable macro sentiment, and news of maintenance at large refineries. After the enthusiasm of the bulls faded, the market returned to calm, and SHFE lead jumped initially and then pulled back, with the weekly center of operation hovering around the 17,550 yuan/mt line. In the final session, dragged down by the decline in LME lead, it fell below 17,500 yuan/mt and finally closed at 17,450 yuan/mt, with a gain of 0.11%.
