SMM Jan. 7:
Overnight, LME lead opened at $2,022/mt and, amid a frenzy of funds flowing into nonferrous metals, showed a stepwise upward trend, successively breaking through $2,040, $2,025, and $2,070/mt, with the intraday high reaching $2,078/mt, marking the highest level in nearly two months. It finally closed at $2,071/mt, up 2.04%.
Overnight, the most-traded SHFE lead 2602 contract opened at 17,530 yuan/mt. Boosted by the rise in LME lead, SHFE lead rose sharply after opening and quickly climbed above 17,700 yuan/mt, with the intraday high reaching 17,760 yuan/mt, also the highest in nearly two months. In subsequent trading sessions, SHFE lead continued to hover at highs and eventually closed at 17,735 yuan/mt, up 1.28%; its open interest reached 51,392 lots, an increase of 392 lots from the previous trading day.
