LME Lead Closed Lower, SHFE Lead Opened Low and Rose Above 19,000 Yuan/mt [SMM Lead Morning Comment]

Overnight, LME lead opened at $2,336.5/mt, rose to $2,357/mt during the Asian session, and then retreated below the daily average line under the pressure of a stronger US dollar index during the European session, hitting a low of $2,302/mt. It consolidated slightly and finally closed at $2,316.5/mt, down $19/mt, a decrease of 0.81%.

Overnight, the most-traded SHFE 2407 lead contract, dragged down by the weak LME lead, opened with a gap at 18,880 yuan/mt, initially dipped to 18,825 yuan/mt, then rose all the way to a high of 19,060 yuan/mt. It finally closed at 19,020 yuan/mt, up 95 yuan/mt, an increase of 0.5%.