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US Dollar Index Continues to Decline, LME Lead Recovers Previous Day's Losses [SMM Lead Morning Brief]
Feb 14, 2025, at 8:59 am
[SMM Lead Morning Brief: US Dollar Index Continues to Decline, LME Lead Recovers Previous Day's Losses] SMM February 14 News: Overnight, LME lead opened at $1,976.5/mt. During the Asian session, the market was sluggish, and LME lead consolidated between $1,975-1,980/mt. Entering the European session, the US dollar index continued to decline...
SMM, February 14: Overnight, LME lead opened at $1,976.5/mt. During the Asian trading session, the market was sluggish, and LME lead consolidated within the range of $1,975-1,980/mt. Entering the European session, the US dollar index fell consecutively, boosting base metals. LME lead also fluctuated upward, approaching the $2,000/mt threshold and nearly recovering all the losses from the previous day. LME lead ultimately closed at $1,991.5/mt, up 0.94%. Overnight, the most-traded SHFE lead 2503 contract opened at 17,150 yuan/mt. With a visible increase in lead ingot inventory, SHFE lead nearly broke below 17,100 yuan/mt at the beginning of the session. Later, driven by the rise in LME lead, SHFE lead rebounded but mostly consolidated within the range of 17,125-17,160 yuan/mt. It eventually closed at 17,125 yuan/mt, down 0.03%, with open interest reaching 37,256 lots, an increase of 94 lots compared to the previous trading day.
