LME lead inventory continued to decline, LME lead outperformed SHFE lead [SMM Lead Morning Comment]

Overnight, LME lead opened at $2,307/mt, rising to a high of $2,351/mt, and finally dropped slightly before closing at $2,335.5/mt, up $30.5/mt, or 1.32%. Overnight, the most-traded SHFE lead contract opened at ¥18,870/mt, rose to ¥18,975/mt at the beginning of the session, then dropped to a low of ¥18,795/mt, and finally rebounded to close at ¥18,890/mt, up ¥85/mt, or 0.45%.