Domestic and Overseas Markets Show No Strong Contradictory Factors Lead Prices in Consolidation [SMM Lead Morning Brief]

SMM August 18 News:

On Friday, LME lead opened at $1,991.5/mt. During the Asian trading session, the market was sluggish, with LME lead fluctuating between $1,985-1,990/mt for most of the time. Entering the European trading session, the US dollar index significantly declined, and nonferrous metals relatively rebounded. LME lead also attempted to reach the $2,000/mt level but failed. During the night session, LME lead pulled back, eventually closing at $1,981/mt, down 0.45%.

On Friday, the most-traded SHFE lead 2509 contract opened at 16,810 yuan/mt. As expected, lead ingot inventory increased during the delivery period, and SHFE lead moved downwards after a higher opening. In the latter part of the session, it consolidated between 16,775-16,800 yuan/mt, finally closing at 16,780 yuan/mt, down 0.27%; its open interest stood at 50,401 lots, decreasing by 806 lots from the previous trading day.