SMM April 17 News:
Overnight, LME lead opened at $1,904.5/mt. During the Asian session, dragged down by the decline in SHFE lead, LME lead fluctuated downward. Entering the European session, the US announced additional tariffs on China again, while LME lead inventory surged by 17,600 mt, intensifying the decline in LME lead, which fell to a low of $1,888.5/mt. After Powell's speech in the US, the US dollar index weakened, and LME lead also retraced most of its losses, finally closing at $1,904/mt, up 0.11%.
Overnight, the most-traded SHFE lead 2505 contract opened at 16,695 yuan/mt. At the beginning of the session, SHFE lead weakened, falling to a low of 16,650 yuan/mt. However, domestic scrap battery prices remained firm, and the cost support of secondary lead played a role. In the latter part of the trading session, SHFE lead rebounded above 16,700 yuan/mt, finally closing at 16,730 yuan/mt, down 0.12%. Its open interest reached 30,144 lots, a decrease of 849 lots compared to the previous trading day.
