US dollar index strengthens combined with inventory buildup, LME lead records five consecutive days of decline [SMM Lead Morning News]

SMM News on July 31:

Overnight, LME lead opened at $2,019/mt. The market awaited new developments on US tariffs scheduled for August 1. Meanwhile, LME lead inventory increased by over 6,000 mt for two consecutive days, leading to rising inventory pressure. LME lead fluctuated downward throughout the day. During the night, the US Fed announced its interest rate decision, causing the US dollar index to surge strongly. LME lead then fell below the $2,000/mt integer mark, reaching a low of $1,989/mt. By the end of the session, LME lead closed at $1,992/mt, down 1.39%, marking five consecutive days of decline.

Overnight, the most-traded SHFE lead 2509 contract opened at 16,885 yuan/mt. Lead warrant inventory continued to accumulate, and the issue of secondary lead losses remained unresolved. Bulls and bears remained deadlocked throughout the session, with SHFE lead fluctuating mostly between 16,850-16,900 yuan/mt. It eventually closed at 16,880 yuan/mt, down 0.06%. Its open interest stood at 66,552 lots, a decrease of 189 lots from the previous trading day.