Overnight lead futures fluctuated downward, with SHFE lead losing support at the 17,500 yuan/mt level [SMM Lead Morning Comment]

Overnight, LME lead opened at $2,047/mt, ran strongly during the Asian session, climbed to $2,062/mt in the European session, then fell to a low of $2,021/mt, and rebounded before closing, ending at $2,037.5/mt, down $5.5/mt, a decrease of 0.27%.

Overnight, the most-traded SHFE lead 2409 contract opened at 17,615 yuan/mt, briefly touched a high of 17,655 yuan/mt at the beginning of the session, then fell all the way to a low of 17,455 yuan/mt, and finally closed at 17,475 yuan/mt, down 185 yuan/mt, a decrease of 1.05%.