SMM, May 26:
Lunqin was closed overnight. Overnight, Shanghai lead opened at 14410 yuan / ton and fluctuated in a narrow range at the beginning of the session, basically running around 14455 yuan. During this period, it tried to break and fall, reaching 14385 yuan / ton, then rebounded, and finally reported at 14455 yuan / ton. Shanghai lead continues the strong trend, the uplink channel is open, short-term inertia has the possibility of hitting the previous high, the current market inventory is still low, from the recent and distant months of the increase in positions, there is a risk of soft forced positions.
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![SHFE Lead Rebounded Slightly After an Intraday Dip and Closed with a Small Bearish Candlestick [Lead Futures Brief Review]](https://imgqn.smm.cn/usercenter/qnyHQ20251217171721.jpeg)
![LME Lead Bottomed Out, While SHFE Lead Retreated After Rapid Rise and Consolidated [SMM Lead Morning Brief]](https://imgqn.smm.cn/usercenter/EhsCj20251217171721.jpeg)
