SMM Morning Comment For Lead Market (Feb 19)

SHANGHAI, Feb 19 (SMM) –LME lead price first declined and then rose during the CNY holiday. It opened at $2,052.5/ton on February 9. During the week, LME Singapore lead stocks increased by 4,500 tons, which sent LME lead price to $1,994.5/ton, setting a new low in the past six months. In the second half of the week, as the market's expectations for post-holiday consumption increased, LME lead rebounded. It touched a high of $2,073.5/ton last Friday and finally closed at $2,070/ton, an increase of 1.07%. During the traditional Spring Festival holiday from February 9 to February 18, 2024, the SHFE was closed.