SMM, April 27th:
Last Friday, Lun lead opened at US $1646 per tonne. During the Asian session, Lun lead fluctuated narrowly and traded lightly. It operated at US $1650 and entered the European period. The low level reached US $1611.5 per ton, approaching the previous low. The internal and external price continued to be revised up and finally closed at US $1624 / ton, down 1.34%. Lun lead is in line with the previous point of view, overseas funds are more pessimistic about the actual overseas lead consumption, supply-side disturbance is lower, the overall lead into the downward channel, the follow-up consideration of the early low.
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![Secondary Lead Prices Inverted Against Primary Lead Prices, Lead Market Fluctuated Amid a Tug-of-War Between Sellers and Buyers [SMM Lead Morning Meeting Minutes]](https://imgqn.smm.cn/usercenter/xVUpr20251217171722.jpg)
![LME lead fluctuated upward to close higher, while SHFE lead moved downwards after a higher opening and remained in the doldrums [SMM Lead Morning Brief]](https://imgqn.smm.cn/usercenter/mIbTL20251217171721.jpg)
