The US dollar index's short-term strength weighed on nonferrous metals, with LME lead surrendering most of its gains [SMM Lead Morning News]

SMM September 10 news:

Overnight, LME lead opened at $1,990/mt. After opening, LME lead showed weak performance, exhibiting a stepwise downward trend throughout the day. Particularly during the night session, influenced by the strong US dollar index, the center of LME lead's trading range shifted lower to around $1,975/mt, eventually closing at $1,978/mt, down 0.6%.

Overnight, the most-traded SHFE lead 2510 contract opened at 16,895 yuan/mt. Affected by the decline in LME lead and the loosening of domestic scrap costs, SHFE lead quickly fell after opening, fluctuating downward during the session and approaching 16,800 yuan/mt, ultimately closing at 16,820 yuan/mt, down 0.56%. Its open interest reached 49,762 lots, an increase of 62 lots compared to the previous trading day.