Overnight, LME lead opened at US$2,057.5/mt, touched a low of US$2,057/mt early in the session, and then fluctuated upward to a high of US$2,073/mt. Entering the European session, it oscillated around the intraday average line and finally closed at US$2,063/mt, down 0.02%.

Overnight, LME lead opened at $2,041/mt. During the Asian session, it first declined and then rebounded, with a low of $2,034.5/mt. Entering the European session, with bulls increasing their positions, LME lead surged to $2,065/mt and finally closed at $2,063.5/mt, up 1.2%.

[SMM Lead Morning Meeting Summary: Lead Prices Continue to Hold Up Well, Losses of Secondary Refined Lead Slowly Recovered] This week, lead prices fluctuated upward, with the most-traded SHFE lead contract reaching a three-month high. In a bullish atmosphere, both suppliers and smelters actively quoted prices and shipped goods. On the fundamentals side, many primary lead smelters underwent maintenance this week, while secondary lead enterprises gradually recovered from losses, leading to an increased willingness to resume production. However, the total production of secondary refined lead in June may still fall short of early-month expectations.

Overnight, LME copper opened at $9,692.5/mt, reaching a high of $9,738.0/mt and a low of $9,684/mt, before closing at $9,727.0/mt, up 0.65%. Trading volume reached 14,874 lots, with open interest at 286,436 lots.

[SMM Lead Morning Meeting Summary: Macro Factors Favorable + Fundamentals Improve, Lead Prices Break Through Key Level to Enter Uptrend] The macro sentiment has improved, creating an overall favorable atmosphere for non-ferrous metals to hold up well. Coupled with a shift in the supply-demand dynamics in the lead market due to short-term supply reductions, LME inventory continues destocking, and the sentiment among bulls/longs in the lead futures market is strong. This week, after SHFE lead broke through the key level of 17,000 yuan with increased trading volume, it entered an uptrend.

Overnight, LME copper opened at $9,643.5/mt, dipping to a low of $9,615.0/mt and peaking at $9,697.0/mt, before closing at $9,694.5/mt, up 0.35%.

On Friday evening, LME copper opened at $9,628.5/mt, surging to a high of $9,700/mt in the early session, then fluctuating downward, hitting a low of $9,621.5/mt during the session, and experiencing a slight correction towards the end, ultimately closing at $9,660.5/mt, up 0.43%.