Under Domestic and International Synergy, LME Lead Gradually Recovers From Previous Days' Decline [SMM Lead Morning Brief]

SMM March 25 News: Overnight, LME lead opened at $2,028.5/mt. Driven by the rise in SHFE lead, LME lead fluctuated upward during the Asian trading session and gradually recovered the losses from the previous day. However, as the US dollar index rose during the European trading session, LME lead came under pressure and turned lower, giving up some of its gains. LME lead finally closed at $2,036/mt, with a 0.44% increase. Overnight, news about environmental protection and maintenance on the supply side continued to ferment. The most-traded SHFE lead 2505 contract opened at 17,640 yuan/mt, but imported lead flowing into the domestic market offset part of the supply, leading SHFE lead to move downwards after a higher opening. In the latter half of the trading session, SHFE lead mainly fluctuated between 17,495-17,525 yuan/mt, eventually closing at 17,495 yuan/mt, with a 0.48% decrease; its open interest reached 64,443 lots, down 2,154 lots from the previous trading day.