Overnight Lead Futures Both Weakened and Closed Lower, SHFE Lead Rose First Then Fell to Form a Small Bullish Candlestick with a Long Upper Shadow [SMM Lead Morning News]

SMM November 5 News:

Overnight, LME lead opened at $2,028/mt, fluctuated downward during the Asian session. Entering the European session, it continued the decline to touch a low of $2,016.5/mt, then fluctuated upward to reach a high of $2,032.5/mt. It pulled back and adjusted before closing, finally settled at $2,021/mt, down $9/mt or 0.44%.

Overnight, the most-traded SHFE lead contract opened at 17,425 yuan/mt. It fluctuated upward at the beginning of the session to touch a high of 17,585 yuan/mt, then weakened and fell below the daily average line. Under pressure at 17,500 yuan/mt, it consolidated briefly before weakening again, exploring a low of 17,425 yuan/mt, and finally settled at 17,435 yuan/mt, down 10 yuan/mt or 0.06%, forming a small bullish candlestick with a long upper shadow.