SMM Lead Market Morning Comment (Aug 6)

Overnight, LME lead opened at $2,027/mt, briefly touched a high of $2,038/mt during the Asian session, and then fluctuated downward. Entering the European session, shorts increased their positions and the dollar fluctuated upward, causing LME lead to dip to $1,926.5/mt, and it finally closed at $1,957.5/mt, down 3.81%.

Overnight, the most-traded SHFE 2409 lead contract opened at 17,300 yuan/mt, briefly touched a low of 17,075 yuan/mt at the beginning of the session, and then weakly consolidated as longs reduced their positions. During this period, it touched a high of 17,415 yuan/mt and finally closed at 17,235 yuan/mt, down 3.58%.