SMM December 19:
Overnight, LME lead opened at $1,957/mt, hovered around the daily average during the Asian session, and entered the European session with a brief decline, fluctuating to hit a low of $1,951.5/mt before turning upward, reaching a high of $1,695.5/mt. It gave back some gains toward the close, finally settling at $1,960/mt, down $1/mt or 0.05%, forming a small bullish candlestick.
The SHFE lead 2601 contract saw a trading volume of 8,660 lots and open interest of 21,851 lots; the SHFE lead 2602 contract recorded a trading volume of 19,315 lots and open interest of 59,494 lots. The most-traded SHFE lead contract officially rolled over to the 2602 contract.
Overnight, the most-traded SHFE lead 2602 contract opened at 16,800 yuan/mt. Early in the session, due to increased buying by bulls, SHFE lead fluctuated considerably between 16,810 yuan/mt and 16,700 yuan/mt, hit a low of 16,705 yuan/mt, then bottomed out and rose all the way to 16,815 yuan/mt before pulling back again. It consolidated toward the close and finally settled at 16,795 yuan/mt, down 15 yuan/mt or 0.09%, forming a small bearish candlestick.
