SMM Lead Morning Comment Jul 10: Overnight Lead Futures Continued Weak Performance, LME Lead Fell Nearly 2%, SHFE Lead Lost Support at 19,500 yuan/mt 

SHANGHAI, July 10 (SMM) – Overnight, LME lead opened at $2,236/mt, initially declining and then consolidating during the Asian session. Entering the European session, the US dollar index slightly rebounded, putting pressure on base metals, with LME lead declining to a low of $2,186/mt. Before the close, it slightly rebounded and finally closed at $2,195/mt, down $42.5/mt, a decrease of 1.9%. Overnight, the most-traded SHFE lead 2408 contract opened at 19,560 yuan/mt, initially reaching a high of 19,590 yuan/mt before declining to a low of 19,430 yuan/mt due to the drag from LME lead, and finally closed at 19,450 yuan/mt, down 205 yuan/mt, a decrease of 1.04%.