SMM April 10:
LME lead opened at $1,931/mt this week. Early in the week, prices fluctuated higher amid geopolitical tensions, touching a high of $1,962.5/mt. From mid-week onward, the market weakened and fluctuated downward, dipping to a low of $1,919.5/mt before rebounding slightly at the close, ultimately settling at $1,923/mt, down $9 from the weekly open, a decline of 0.47%.
The most-traded SHFE lead 2605 contract opened at 16,755 yuan/mt this week. Early in the week, lead prices experienced wild swings within the 16,660-16,805 yuan/mt range, briefly surging higher during the session on easing geopolitical tensions and touching a high of 16,885 yuan/mt. Prices subsequently pulled back as bulls took profits and downstream consumption remained weak, dipping to a low of 16,575 yuan/mt at the close, ultimately settling at 16,685 yuan/mt, down 100 yuan WoW, a decline of 0.6%.
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