Domestic and International Lead Prices Show Strong Performance, LME Lead Jumps to a Two-Month High [SMM Lead Morning News]

SMM, February 10:

Last Friday, LME lead opened at $1,991/mt. Driven by the rise in SHFE lead, LME lead fluctuated upward, reaching an intraday high of $2,020.5/mt, a nearly two-month high. However, as the US dollar index strengthened overnight, base metals came under pressure, and LME lead reversed its trend and pulled back below $2,000/mt, eventually closing at $1,990/mt, up by 0.08%.

Last Friday, the most-traded SHFE lead 2503 contract opened at 17,210 yuan/mt. Despite the post-holiday inventory buildup of lead ingots, SHFE lead remained strong, briefly trading at 17,225 yuan/mt during the session, marking a one-and-a-half-month high. In subsequent periods, SHFE lead fluctuated between 17,150-17,200 yuan/mt, finally closing at 17,170 yuan/mt, up by 0.47%. Its open interest reached 44,940 lots, a decrease of 160 lots compared to the previous trading day.