Overnight, LME Lead Recorded a Small Negative Candle with a Long Lower Shadow; SHFE Lead Closed Slightly Lower [SMM Lead Morning Brief]

Jan 22, 2025, at 8:30 am

[SMM Lead Morning Brief: LME Lead Recorded a Small Negative Candle with a Long Lower Shadow Overnight, SHFE Lead Slightly Closed Lower] SMM, January 22: Overnight, LME lead opened at $1,971.5/mt and finally closed at $1,969/mt, down $3/mt, a decrease of 0.15%. Overnight, the most-traded SHFE lead 2503 contract opened at 16,650 yuan/mt and finally closed at 16,640 yuan/mt, down 140 yuan/mt, a decrease of 0.83%.

SMM January 22 News:

Overnight, LME lead opened at $1,971.5/mt, briefly touched $1,975.5/mt during the Asian session, then weakened throughout the European session, fluctuating around $1,950/mt. It hit a low of $1,942/mt during the period and rebounded before the close, ultimately settling at $1,969/mt, down $3/mt, a decrease of 0.15%.
Overnight, the most-traded SHFE lead 2503 contract opened at 16,650 yuan/mt, slightly climbed to a high of 16,675 yuan/mt during the early session, then consolidated around the intraday moving average. It briefly touched a low of 16,605 yuan/mt and finally closed at 16,640 yuan/mt, down 140 yuan/mt, a decrease of 0.83%.

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