SMM Sept. 11:
Overnight, LME lead opened at $1,980/mt and remained in the doldrums throughout the session, hitting a low of $1,972/mt. Despite the continued decline in LME lead inventory, its impact on futures trading was limited. Towards the tail end of the session, LME lead stopped falling and rebounded, returning to the previous price level, and finally closed at $1,988.5/mt, up 0.53%.
Overnight, the most-traded SHFE lead 2510 contract opened at 16,815 yuan/mt and consolidated within a narrow range of 16,810-16,825 yuan/mt for an extended period after opening. Near the close, the center of SHFE lead's trading shifted slightly higher, and it eventually settled at 16,845 yuan/mt, up 0.03%. Open interest decreased by 183 lots to 50,284 lots compared with the previous trading day.
