Both LME and SHFE lead fell to a one-month low on supply pressure

SHANGHAI, Nov 28 (SMM) - Overnight, LME lead opened at $2,195/mt. Dragged down by the decline in SHFE lead and the LME lead inventory accumulation, LME lead prices inched lower throughout the day, falling to as low as $2,161/mt. At last, the contract closed at $2162/mt, down 1.5%.
The most traded SHFE 2401 lead contract opened at 16105 yuan/mt overnight and recorded a one-and-a-half-month low of 16095 yuan/mt. SHFE lead finally closed at 16140 yuan/mt, down 0.95%. The open interest was up 2268 lots to 74480 lots.