LME lead fluctuated upward, SHFE lead stopped falling and stabilized [SMM Lead Morning Brief]

SMM News on December 18:

Overnight, LME lead opened at $1,945/mt. During the Asian session, it moved sideways around the daily average line. Entering the European session, LME lead fluctuated upward, touching a high of $1,968/mt, with its trading center rising. It dropped back slightly toward the close, and the KDJ gap narrowed. It finally closed at $1,961/mt, up $19/mt, or 0.98%. Ending a three-day losing streak, it recorded a large bullish candlestick.

Overnight, the most-traded SHFE lead 2601 contract opened higher with a gap at 16,840 yuan/mt. Due to bears reducing positions, SHFE lead briefly rose to a high of 16,915 yuan/mt at the beginning of the session, then fluctuated considerably between 16,870 yuan/mt and 16,780 yuan/mt. It rebounded slightly toward the close, with its trading center rising and the KDJ gap narrowing. It finally closed at 16,825 yuan/mt, up 55 yuan/mt, or 0.33%, forming a small bearish candlestick.