Lead Price Lacks Momentum for Further Gains, Consolidation Trend Seen Both Domestically and Overseas [SMM Lead Morning News]

SMM September 26: Last Friday, LME lead opened at $2,008/mt. With no prominent trading contradictions in overseas markets, LME lead traded within a high range throughout the day, mostly consolidating between $2,000/mt and $2,010/mt. Although a weakening US dollar prompted LME lead to attempt breaking above $2,010/mt during the session, it ultimately failed and closed at $2,001.5/mt, down 0.37%.

Last Friday, the most-traded SHFE lead 2511 contract opened at 17,065 yuan/mt. Early in the session, due to lead ingot destocking, SHFE lead once attempted to break above 17,100 yuan/mt. However, as traders gradually withdrew ahead of the National Day holiday, market trading activity declined, and SHFE lead fluctuated and pulled back, eventually closing at 17,075 yuan/mt, down 0.09%. Open interest decreased by 1,399 lots from the previous trading day to 59,263 lots.