SMM, February 7:
This week, LME lead opened at $1,945/mt, briefly touching a low of $1,935/mt in early trading. As the US dollar index weakened, LME lead fluctuated upward, reaching a high of around $2,014/mt in the latter half of the week and fluctuating within that range. By 15:00 on Friday, it closed at $2,008/mt, up by 3.00%.
Due to the Chinese New Year holiday, SHFE lead was closed from Monday to Tuesday. This week, the most-traded SHFE lead 2503 contract opened at a low of 16,750 yuan/mt. With the recovery of domestic downstream lead consumption and the boost from overseas LME lead trends, SHFE lead reached a high of 17,180 yuan/mt on Friday and closed at 17,175 yuan/mt, up by 3.00%.
