Overnight LME Lead Rebounded to Make Up Gains, While SHFE Lead Closed for Chinese New Year Holiday [SMM Lead Morning Brief]

Published: Feb 5, 2025 08:33

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[SMM Lead Morning Brief: LME Lead Rebounded Overnight, SHFE Lead Closed for Chinese New Year Holiday] SMM February 5 News: Overnight, LME lead opened at $1,945/mt, fluctuated rangebound during the Asian session; entered the European session fluctuating downward to a low of $1,940/mt, and rebounded with a corrective rise at the end of the session as the US dollar weakened, releasing pressure...

SMM February 5:

Overnight, LME lead opened at $1,945/mt, fluctuated rangebound during the Asian session; entered the European session fluctuating downward to a low of $1,940/mt. By the end of the session, as the US dollar weakened, resistance was released, leading to a rebound and recovery, reaching a high of $1,973.5/mt, and finally closing at $1,969.5/mt, up 1.26%.

Due to the Chinese New Year holiday, SHFE lead was closed and will resume trading on Wednesday.

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