SMM February 19 News:
Overnight, LME lead opened at $1,989/mt. During the Asian session, it fluctuated rangebound around the daily moving average. Entering the European session, bears reduced positions and exited the market, pushing prices higher to a peak of $1,998/mt, eventually closing at $1,996.5/mt, up by $14/mt, or 0.71%.
Overnight, the most-traded SHFE lead 2503 contract opened at 17,150 yuan/mt. After briefly touching a high of 17,160 yuan/mt in early trading, it declined to a low of 17,085 yuan/mt before fluctuating rangebound, eventually closing at 17,135 yuan/mt, down by 35 yuan/mt, or 0.20%.
