Spot Market Consumption Remains Weak, Lead Prices Maintain Fluctuating Trend [SMM Lead Morning News]

SMM January 14:

Overnight, LME lead opened at $2,052.5/mt, weakened to $2,042.5/mt during the Asian session, then rebounded to around $2,060/mt and fluctuated. Entering the European session, driven by increased long positions, it touched a high of $2,063.5/mt before returning to fluctuations towards the end of the session, finally closing at $2,060/mt, up $7/mt, a gain of 0.34%. The KDJ lines converged, forming a small bullish candlestick.

Overnight, the most-traded SHFE lead 2603 contract opened at 17,375 yuan/mt. After briefly touching a low of 17,330 yuan/mt early in the session, it bottomed out and fluctuated upward, reaching a high of 17,475 yuan/mt, then fluctuated considerably between 17,410 and 17,470 yuan/mt, finally closing at 17,435 yuan/mt, up 75 yuan/mt, a gain of 0.43%. A small bullish candlestick was formed.