Overnight, LME lead opened at $2,312.5/mt, reaching a low of $2,265/mt, hitting a one-week low. During the European session, the US dollar index significantly declined, reducing the pressure on base metals. LME lead rebounded but failed to stabilize above $2,300/mt, eventually closing at $2,295.5/mt, down 0.71%. Overnight, the most-traded SHFE 2407 lead contract opened at 18,360 yuan/mt, eventually closing at 18,450 yuan/mt, down 0.24%. Open interest reached 77,157 lots, a decrease of 1,886 lots from the previous trading day.
LME Lead Falls to One-Week Low [SMM Lead Morning Comment]
- May 24, 2024, at 9:53 am
Overnight, LME lead opened at $2,312.5/mt, reaching a low of $2,265/mt, hitting a one-week low.
