LME lead and SHFE lead both opened lower with a gap, continuing to fluctuate at lows [SMM Lead Morning Brief]

SMM December 17:

Overnight, LME lead opened lower with a gap at $1,946.5/mt. During the Asian session, it moved rangebound along the daily average line. Entering the European session, after briefly rising, LME lead continued its fluctuating trend, with the trading center shifting downward, and finally closed at $1,942/mt, down $4.5/mt, a decrease of 0.23%, marking three consecutive declining sessions.

Overnight, the most-traded SHFE lead 2601 contract opened lower with a gap at 16,825 yuan/mt. At the beginning of the session, after briefly rising above the daily average line and fluctuating rangebound, it slowly declined during the session, then moved rangebound around 16,815 yuan/mt below the daily average line. The trading center of SHFE lead shifted downward, finding support at the lower Bollinger Band, and finally closed at 16,825 yuan/mt, down 0 yuan/mt, a decrease of 0.00%, forming a doji.