SMM, September 10:
Overnight, the LME lead 3M contract retreated after a rapid rise on September 9, opening at $1,912.5/mt. During Asian trading hours, it shot up to $1,919.0/mt, briefly piercing the upper Bollinger Band, but failed to hold above it. From the European session onward, it consolidated lower, dipping to $1,904.5/mt before closing at $1,909.0/mt, down $6.0/mt, or 0.31%, from the previous trading day's closing price. The full-day trading range was $1,904.5-1,919.0/mt, with volume of 5,383 lots and open interest of 172,938 lots, a slight increase of 109 lots.
Overnight, the SHFE lead 2610 contract opened the night session at 16,150 yuan/mt. It quickly pulled back after the open, touching a low of 16,055 yuan/mt, then rebounded in consolidation, recovering some losses to reach a high of 16,160 yuan/mt, and finally closed at 16,105 yuan/mt, down 80 yuan/mt, or 0.49%, from the previous trading day's closing price. Night session volume was 31,669 lots, with open interest of 64,287 lots, an increase of 1,940 lots.
![Primary Lead Holds Prices Firm & Secondary Refined Lead Discounts Widen, Lead Prices Under Pressure at High Levels [SMM Lead Morning Meeting Summary]](https://imgqn.smm.cn/usercenter/EhsCj20251217171721.jpeg)
