SMM morning comment (Fed 23): LME lead outperformed SHFE lead due to falling overseas stocks

LME lead opened at $2,079/mt on Wednesday, and moved up amid falling US dollar index and overseas inventory erosion after dropping to $2,071/mt, and finally closed up 0.53% at $2,091.5/mt.

Overnight, the most-traded SHFE 2403 lead contract opened up to 15,845 yuan/mt, hitting a high of 15,915 yuan/mt, but crept down to 15,825 yuan/mt amid LME lead price slip, and finally closed down 0.22% at 15,830 yuan/mt.