The US dollar index plunged significantly, and both domestic and international lead futures closed higher [SMM Lead Morning Comment]

Published: Aug 26, 2024 09:39

Source: SMM

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Last Friday, LME lead opened at a low of $2,062/mt and fluctuated upwards during the Asian session.

Last Friday, LME lead opened at a low of $2,062/mt and fluctuated upwards during the Asian session. Due to Powell's most dovish signal to date, the US dollar index plunged significantly. During the European session, LME lead surged to $2,122/mt and finally closed at $2,110/mt, an increase of 2.6%.

Last Friday night, the most-traded SHFE lead 2409 contract opened at 17,570 yuan/mt, briefly touched a low of 17,505 yuan/mt at the beginning of the session, and was boosted by the rise in LME lead to reach a high of 17,675 yuan/mt, closing at 17,665 yuan/mt, an increase of 1.58%.

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