US dollar index strengthens, LME lead falls to near two-week low [SMM Lead Morning Brief]

SMM August 19 News:

Overnight, LME lead opened at $1,982.5/mt. After the opening, the overall center of operation shifted downward, especially as the US dollar index rose during the session, putting pressure on LME lead to fall to $1,968/mt, reaching a low not seen in nearly two weeks. LME lead gradually recovered from its losses overnight and finally closed at $1,980.5/mt, down 0.03%.

Overnight, the most-traded SHFE lead 2509 contract opened at 16,790 yuan/mt. With domestic secondary lead production cuts coexisting with weak consumption, after the opening, SHFE lead saw continuous buying and selling competition. For most of the time, SHFE lead fluctuated between 16,770-16,820 yuan/mt until it finally closed at 16,795 yuan/mt, up 0.03%; its open interest reached 49,020 lots, a decrease of 476 lots from the previous trading day.