Overnight Lead Continued to Fluctuate Strongly, SHFE Lead Rose by Nearly 2% [SMM Lead Morning Comment]

LME lead opened at $2,190/mt overnight, consolidating slightly around the daily moving average during the Asian session. Entering the European session, it fell to a low of $2,190/mt before briefly stabilizing. It then rebounded and rose amid a lower US dollar index and a generally rising non-ferrous metals market, reaching a high of $2,198/mt, up $2.5/mt, or 0.11%.
Overnight, the most traded SHFE 2408 lead contract opened at 18,890 yuan/mt. It initially rose to a high of 19,265 yuan/mt, boosted by the strength of LME lead. After a slight pullback, it consolidated around 19,150 yuan/mt and finally closed at 19,215 yuan/mt, up 325 yuan/mt, or 1.72%.