SMM August 25 News:
On Friday, LME lead opened at $1,975/mt, fluctuated around the daily average during the Asian session, and then fluctuated upward to reach a high of $1,998/mt in the European session before rebounding. It touched a high of $1,996.5/mt and then adjusted, finally closing at $1,992/mt, up $22/mt, with a 1.12% increase.
On Friday night, the most-traded SHFE lead contract opened at 16,790 yuan/mt, initially dipped to 16,755 yuan/mt, and then fluctuated upward, reaching a high of 16,895 yuan/mt before adjusting, and finally closed at 16,830 yuan/mt, up 70 yuan/mt, with a 0.42% increase.
On the macro front, on August 24 local time, US Vice President Vance stated that new sanctions against Russia to pressure it to end the conflict with Ukraine are not out of the question, and the US has multiple options to pressure Russia. After Powell's dovish remarks, traders increased their bets on a US Fed interest rate cut. Domestically, the central bank continued to inject liquidity, announcing that it would conduct a 600 billion yuan MLF operation on August 25.
