Shorts Increased Positions, Domestic and Foreign Lead Prices Both Fell [SMM Lead Morning Comment]

SMM, August 30: Overnight, LME lead opened at $2,071/mt. During the Asian session, it fluctuated upwards to $2,080.5/mt. Due to weak demand, LME lead fluctuated downwards during the European session, hitting a low of $2,032.5/mt at the end of the session and closing at $2,042/mt, a decrease of 1.38%. Overnight, the most-traded SHFE lead 2410 contract opened lower at 17,380 yuan/mt. At the beginning of the session, shorts increased positions, causing SHFE lead to drop to 17,195 yuan/mt. After hitting the low, it rebounded and recovered most of the losses, closing at 17,340 yuan/mt, a decrease of 0.34%.