US Dollar Showed Strong Performance, LME Lead Fell to Near Two-Week Low [SMM Lead Morning Brief]

SMM March 24 News: On Friday, LME lead opened at $2,054/mt. After the US Fed's interest rate meeting signaled no quick interest rate cuts, the US dollar index hit a two-week high, and non-ferrous metals generally turned negative. LME lead fell sharply for two consecutive days, nearly erasing all gains from the previous two weeks, with the lowest point during the session reaching $2,015/mt. Towards the end of the session, some shorts took profits, and LME lead finally closed at $2,027/mt, down 1.1%. On Friday, the most-traded SHFE lead 2505 contract opened at 17,430 yuan/mt. Affected by the decline in LME lead and the inventory buildup of domestic lead ingots, SHFE lead fluctuated downward. With lead profits significantly shrinking, some traders focused on cost support, and in the latter part of the trading session, SHFE lead consolidated around the 20-day average, eventually closing at 17,395 yuan/mt, down 0.43%; its open interest reached 61,352 lots, a decrease of 41 lots from the previous trading day.