SMM Lead Market Morning Comment (Jul 29)

Last Friday, LME lead opened at $2,035/mt. During the Asian session, it consolidated around the intraday moving average. Entering the European session, LME lead fluctuated upward and reached a high of $2,083.5/mt. Before the close, it slightly declined and closed at $2,076/mt, up $40.5/mt, an increase of 1.99%.

Last Friday night, the most-traded SHFE 2409 lead contract opened at 18,665 yuan/mt. It initially declined to a low of 18,485 yuan/mt. Subsequently, it was boosted by the strengthening of LME lead and climbed to a high of 18,745 yuan/mt. After a slight consolidation, it closed at 18,725 yuan/mt, down 50 yuan/mt, a decrease of 0.27%.