Inventory trends in China and overseas diverge, both LME lead and SHFE lead are consolidating [SMM Lead Morning Brief]

Published: Aug 11, 2026 09:01

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[SMM Lead Morning Update: Divergence in Inventory Trends in China and Overseas, LME Lead and SHFE Lead Both Consolidate] SMM August 11 News: Overnight, LME lead opened at $1,890/mt and consolidated near that level during Asian trading hours...

SMM, August 11:

Overnight, LME lead opened at $1,890/mt. During Asian trading hours, LME lead consolidated around $1,890/mt. Entering European trading hours, the center of LME lead's trading moved higher. Subsequently, for most of the session, it moved sideways around $1,900/mt, until finally closing at $1,900/mt, up 0.82%.

Overnight, the most-traded SHFE lead 2609 contract opened at yuan 15,840/mt. After opening, SHFE lead consolidated at highs, spending most of the time consolidating between yuan 15,835 and 15,865/mt, finally closing at yuan 15,840/mt, up 0.6%; open interest was 558.46 million lots, a decrease of 4,340 lots from the previous trading day.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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