SHFE lead rebounds after hitting lows during overseas holiday period [SMM Lead Morning News]

SMM May 27 News:

Due to the UK bank holiday yesterday, the LME lead market was closed for the day and will resume normal trading today.

Overnight, the most-traded SHFE lead 2507 contract opened at 16,760 yuan/mt. As the inventory of lead warrants reversed its trend and increased cumulatively, SHFE lead fluctuated downward in the early session, reaching 16,745 yuan/mt. In the latter half of the trading session, following the strong rally in zinc prices, SHFE lead followed suit and rose again, trading above 16,800 yuan/mt. Ultimately, SHFE lead closed at 16,830 yuan/mt, down 0.06%, with its open interest reaching 45,638 lots, an increase of 1,306 lots from the previous trading day.