Lead prices nearly erased last week's gains, awaiting subsequent macro guidance [SMM Lead Morning News]

SMM December 10 News:

Overnight, LME lead opened at $2,001.5/mt. After opening, LME lead fluctuated downward throughout the day. During the Asian session, it fell below $2,000/mt, then gradually moved to $1,990/mt and $1,980/mt. Particularly as the US dollar index strengthened, LME lead declined further, hitting a session low of $1,975/mt, and finally closed at $1,976.5/mt, down 1.1%.

Overnight, the most-traded SHFE lead 2601 contract opened lower at 17,125 yuan/mt. Dragged down by the decline in LME lead and decreased trading activity in the domestic spot market, SHFE lead's losses widened after opening. It hit a session low of 17,015 yuan/mt, nearly breaching the 17,000 yuan/mt mark, and finally closed at 17,025 yuan/mt, down 1.22%. Its open interest reached 40,479 lots, a decrease of 141 lots from the previous trading day.