Lead Ingot Inventory Accumulates as Expected, Domestic and Overseas Lead Prices Both Decline [SMM Lead Morning News]

SMM November 17 News:

Last Friday, LME lead opened at $2,074.5/mt and fluctuated downward throughout the day. Even though LME lead inventory declined during the European session, the decline in LME lead only paused briefly. After entering the night session, the overall trading center moved down again, and it finally closed at $2,066/mt, down 0.43%.

Last Friday, the most-traded SHFE lead 2601 contract opened at 17,520 yuan/mt. As domestic visible inventory accumulated as expected, the trading center of SHFE lead moved further down to 17,500 yuan/mt, with the intraday low hitting 17,440 yuan/mt. It found support at the 20-day moving average and finally closed at 17,465 yuan/mt, down 0.77%. Its open interest reached 77,760 lots, an increase of 1,551 lots from the previous trading day.