SMM Lead Market Morning Comment (Aug 9)

Overnight, LME lead opened at $1,952/mt and fluctuated downward during the Asian session. After entering the European session, it dipped to $1,941.5/mt, then bears reduced their positions, and LME lead fluctuated upward, finally closing at a high of $1,982/mt, an increase of 1.46%.

Overnight, the most-traded SHFE 2409 lead contract opened at 17,430 yuan/mt, briefly touched a low of 17,325 yuan/mt at the beginning of the session, then rose to 17,905 yuan/mt after bears reduced their positions, and closed at 17,825 yuan/mt, an increase of 2.86%.