SMM Lead Market Morning Comment (Apr 18)

Overnight, LME lead opened at $2,150/mt, with its lowest and highest at $2,135/mt and $2,176/mt due to weak US dollar before closing at $2,168/mt, up 0.95%.

The most-traded SHFE 2406 lead contract opened at 16,960 yuan/mt overnight, with its high at 17,030 yuan/mt. Then, entry of bears pushed SHFE lead down to 16,915 yuan/mt before closing at 16,935 yuan/mt, down 0.18%.