SMM May 30 report:
Due to the UK's Spring Bank Holiday, the LME was closed on Monday. On Tuesday, LME lead opened at $1,987/mt, initially touching a high of $1,994/mt. Mid-week, it oscillated around the $1,980/mt level. As US consumer confidence improved and the US dollar index strengthened, LME lead came under pressure, dipping to a low of $1,949.5/mt by the end of the session. As of 15:30 Beijing time on May 30, 2025, it closed at $1,950/mt, down 2.21%.
This week, the SHFE lead 2507 contract opened at 16,835 yuan/mt, initially touching a high of 16,890 yuan/mt. Due to sluggish trading activity in the domestic spot market and the Dragon Boat Festival holiday for downstream battery producers, bears frequently increased their positions, causing SHFE lead to dip to a low of 16,540 yuan/mt by the end of the session. It ultimately closed at 16,620 yuan/mt, down 1.18%.
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