[SHFE and LME slowdown, SHFE lead night session fills gap]

Published: Oct 12, 2026 08:57 (GMT+8)

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SMM, September 18:

Last Friday, the LME lead 3M contract opened at $1,869.0/mt, drifted higher during the day to a high of $1,891.0/mt, pulled back slightly in the early morning, and finally closed at $1,885.5/mt, up $22.0/mt or 1.18% from the previous trading day's closing price. Trading volume was 7,573 lots and open interest was 194,232 lots, with the daily candlestick closing bullish.

Last Friday, the SHFE lead 2611 contract opened higher at 16,035 yuan/mt in the night session, shot up quickly after the open to a high of 16,105 yuan/mt, filling the previous gap, then continued to consolidate at highs before pulling back slightly near the close, finally settling at 16,080 yuan/mt, up 100 yuan/mt or 0.63% from the previous trading day's closing price. Night session trading volume was 26,933 lots and open interest was 60,917 lots, with the daily candlestick closing as a small bullish candlestick.

Overall, on Friday night, SHFE lead filled the gap and rebounded from oversold conditions, while LME lead also stabilized, with the short-term decline in futures slowing down.

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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