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US tariff risks intensify; lead prices surge then pull back [SMM Lead Morning News]

iconJul 7, 2025 09:01
Source:SMM
[SMM Lead Morning Brief: US Tariff Risks Intensify, Lead Prices Pull Back After Rising] SMM reported on July 7: Last Friday, LME lead opened at $2,060/mt. With the end of the US's reciprocal tariff suspension period, market concerns grew, and LME lead prices pulled back relatively after rising in the previous trading session...

SMM News on July 7:

On Friday last week, LME lead opened at $2,060/mt. With the end of the US's suspension period for reciprocal tariffs, market sentiment grew increasingly concerned. LME lead pulled back relatively after hitting a high in the previous trading day, maintaining a consolidation trend throughout the day, oscillating mostly between $2,055 and $2,065/mt until it finally closed at $2,057/mt, down 0.29%.

On Friday last week, the most-traded SHFE lead 2508 contract opened at 17,315 yuan/mt. With the SHFE lead ingot inventory increasing as expected and tariff risks rising, SHFE lead pulled back, trading between 17,230 and 17,250 yuan/mt until it finally closed at 17,225 yuan/mt, down 0.26%. Its open interest reached 51,651 lots, a decrease of 21 lots from the previous trading day.

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