SMM April 17 News:
LME lead opened at $1,919/mt this week, dipping slightly at the beginning to a low of $1,913/mt. It then fluctuated higher, buoyed by macro sentiment, reaching a high of $1,972.5/mt. The market weakened in the latter part of mid-week, and LME lead shifted to a downward fluctuation, ultimately closing at $1,953.5/mt, up $34.5 from the weekly open, a gain of 1.8%. The most-traded SHFE lead 2605 contract opened at 16,690 yuan/mt this week. SHFE lead fluctuated downward at the start of the week, touching a low of 16,510 yuan/mt, before gradually rebounding to a high of 16,930 yuan/mt. It pulled back toward the close due to weak downstream consumption and insufficient price support, ultimately closing at 16,775 yuan/mt, up 90 yuan WoW, a gain of 0.54%.
