Inventory trends in China and overseas diverge, both LME lead and SHFE lead are consolidating [SMM Lead Morning Brief]

LME zinc inventory remains low, LME zinc consolidates at highs [SMM Zinc Morning Meeting Minutes]

LME front-end backwardation widens, downstream purchase willingness remains low [SMM Yangshan spot copper]

Crude oil surged over 5%, metals broadly rose, LME aluminum, zinc, and tin gained over 1%, precious metals continued to advance, and NY silver jumped over 3% [Overnight Market]

Positive factors exhausted, both LME and SHFE lead pull back [SMM Lead Morning Brief]