LME Lead Closes Up 0.5% as LME Stays Strong; SHFE Lead Consolidates at Highs with Obvious Bull-Bear Stalemate [SMM Lead Morning Brief]

SMM August 27:

Overnight, the LME lead 3M contract drifted higher throughout the day on August 26, opening around $1,900.5/mt, trading in a range of $1,897.5-1,912.5/mt with a spread of $15/mt, pulling back towards the close and finally closing at $1,905.5/mt, up $9.5/mt, or 0.50%, from the previous trading day; trading volume 5,371 lots, open interest 173,521 lots, down 299 lots.

Overnight, the SHFE lead 2610 contract moved sideways in the night session, opening at 16,130 yuan/mt, then consolidating in the range of 16,115-16,155 yuan/mt after opening, with the highest price at 16,160 yuan/mt and the lowest price at 16,110 yuan/mt, finally closing at 16,115 yuan/mt, down 5 yuan/mt, or 0.03%, from the previous trading day's closing price; night session volume 23,277 lots, open interest 71,415 lots, down1,086 lots.