SMM April 24:
LME lead opened at $1,958/mt this week, fluctuating upward initially to reach a high of $1,985.5/mt. Futures then fluctuated downward, and despite brief rebounds, upward momentum was insufficient, with prices dipping again to $1,945/mt. The market entered a consolidation phase toward the end, ultimately closing at $1,952.5/mt, down $5.5/mt or 0.28% from the weekly open.
The most-traded SHFE lead contract opened at 16,840 yuan/mt this week, dipping slightly before rebounding to a high of 16,900 yuan/mt. Weighed down by sluggish downstream consumption and weak fundamental support, prices fluctuated downward to a low of 16,590 yuan/mt. The market maintained a weak consolidation toward the end, closing at 16,670 yuan/mt, down 135 yuan/mt or 0.8% WoW.
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