The escalation of the Israel-Iran conflict over the weekend indirectly disrupted non-ferrous metals, with lead prices halting their decline, rebounding, and fluctuating at highs [SMM Lead Morning Brief]

SMM News on June 23:

On Friday evening, LME lead opened at $1,991.5/mt. It fluctuated downward during the Asian session and continued to decline in the European session, hitting bottom at $1,978/mt before fluctuating upward to a high of $1,995.5/mt. It finally closed at $1,995/mt, up $6.5/mt or 0.33%.

On Friday evening, the most-traded SHFE lead 2507 contract gapped up and opened at 16,855 yuan/mt. It consolidated around the daily moving average in the early session and then rose to a high of 16,885 yuan/mt. It finally closed at 16,875 yuan/mt, up 20 yuan/mt or 0.12%.