Overnight, LME lead opened at US$2137.5/ton. Amid the interest rate cut remarks by former Federal Reserve officials, the US dollar index continued to weaken, non-ferrous metal sectors generally rose, and LME lead also showed an upward trend throughout the day. During the European period, lead inventories continued to destock, and LME lead prices even climbed to $2,165/mt. The contract closed at $2162/mt, up 1.22%.
The most active SHFE 2405 lead opened at 16640 yuan/mt and reached a high of 16715 yuan/mt, and finally closed at 16660 yuan/mt, up 0.54%. Open interest decreased 601 lots to 45549 lots. The 2406 contract may turn into the most active contract in the next few days.
SMM Lead Morning Comments
Overnight, LME lead opened at US$2137.5/ton. Amid the interest rate cut remarks by former Federal Reserve officials, the US dollar index continued to weaken, non-ferrous metal sectors generally rose, and LME lead also showed an upward trend throughout the day
Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.
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