SMM Lead Morning Comments

Overnight, LME lead opened at $2,090/mt. The growth trend of LME lead stocks continued. LME lead fell by $2,100/mt, and finally closed at $2,090.5/mt, a decrease of 0.05%.

Overnight, the most active SHFE 2311 lead contract opened at 16,430 yuan/mt. Boosted by the reduction in lead warrants inventory, SHFE lead had a strong trend at the beginning of the day, reaching a maximum of 16,470 yuan/mt. The contract closed at 16430 yuan/mt, an increase of 0.4%. Open interest stood at 66314 lots, a decrease of 1488 lots from the previous trading day.