Last Friday, LME lead opened at $1,979.5/mt. With US economic data better than expected, market concerns about a recession eased, and LME lead showed a fluctuating upward trend. Meanwhile, LME lead inventories continued to decline, and LME lead gradually reached the $2,000/mt mark, peaking at $2,047.5/mt during the session. By the close, LME lead settled at $2,039.5/mt, up 2.9%.
Last Friday, the most-traded SHFE lead 2409 contract opened at 17,980 yuan/mt. With the accumulation of lead ingots and the expectation of reduced secondary lead production coexisting, the market saw intensified long-short deadlock, and SHFE lead showed a high-level consolidation state. During the session, SHFE lead attempted to break through the 18,000 yuan/mt mark but failed, peaking at 17,995 yuan/mt and finally closing at 17,900 yuan/mt, up 1.24%. Its open interest reached 81,811 lots, an increase of 1,461 lots from the previous trading day.
