SMM Lead Market Morning Comment (July 12)

Overnight, LME lead opened at $2,180/mt. After a slight increase during the Asian session, it retreated. In the European session, LME lead rebounded and closed at $2,197/mt, up $19.5/mt, an increase of 0.9%.

Overnight, the most-traded SHFE lead 2408 contract opened at 19,555 yuan/mt. After briefly touching a high of 19,640 yuan/mt at the beginning of the session, it fell to a low of 19,485 yuan/mt. It then slightly rebounded and consolidated around the daily moving average, reaching a high of 19,520 yuan/mt before continuing to fluctuate downward, and finally closed at 19,540 yuan/mt, up 75 yuan/mt, an increase of 0.39%.