SMM November 27:
Overnight, LME lead opened at $1,981/mt, fluctuating around the daily moving average during the Asian session. Entering the European session, it continued to consolidate, reaching a high of $1,989/mt before fluctuating downward to a low of $1,973.5/mt, ultimately closing at this level, down $8/mt, a decrease of 0.40%.
Overnight, the most-traded SHFE lead contract opened at 17,060 yuan/mt. After opening, it was under pressure and fluctuated narrowly around the daily moving average. Subsequently, dragged down by the weakening LME lead, it lost the support level of 17,000 yuan/mt, finally closing at 16,845 yuan/mt, down 225 yuan/mt, a decrease of 1.32%.
