Overnight, LME lead opened at $1,951.5/mt and fluctuated downward during the Asian session to a low of $1,938.5/mt. Entering the European session, the US dollar index weakened, pushing LME lead climbing to a high of $1,978.5/mt. Towards the end of the session, shorts increased their positions, causing a pullback in LME lead, and it finally closed at $1,953.5/mt, down 0.43%.
Overnight, the most-traded SHFE 2409 lead contract opened at 17,360 yuan/mt and briefly touched a high of 17,395 yuan/mt at the beginning of the session. Dragged down by the decline in LME lead, it pulled back to a low of 17,255 yuan/mt. Later, with the increase in long positions, SHFE lead slightly rebounded, closing at 17,310 yuan/mt, down 0.09%.
