The US Dollar Index Strengthened Overnight, Putting Pressure on Base Metals; Lead Futures Continued to Fluctuate Downward [SMM Lead Morning Brief]

SMM January 3 News:

Overnight, LME lead opened at $1,950/mt, consolidating around the daily moving average during the Asian session. Entering the European session, it briefly touched a high of $1,966/mt before fluctuating downward, hitting a low of $1,933/mt, down $18/mt, a decrease of 0.92%.

Overnight, the most-traded SHFE lead contract opened at 16,795 yuan/mt, briefly touching a high of 16,855 yuan/mt at the beginning of the session before weakening to a low of 16,735 yuan/mt. Before the close, it rebounded to near the daily moving average, finally settling at 16,780 yuan/mt, down 35 yuan/mt, a decrease of 0.21%.