Weekly Review of Lead Futures Prices (2026.2.9-2026.2.13) [SMM Lead Weekly Review]

SMM February 13:

This week, LME lead opened at $1,965/mt, fluctuated downward at the beginning of the week and touched a low of $1,948.5/mt. Subsequently, as the US dollar weakened, making dollar-denominated commodities more attractive to overseas buyers, pressure on LME lead was released and it fluctuated upward. In the second half of the week, it reached a high of $1,998.5/mt before giving back some gains in the final session. As of 15:00 Beijing time on February 13, 2026, it finally closed at $1,975/mt, up $10/mt, an increase of 0.5%.

This week, the most-traded SHFE lead 2604 contract opened at 16,575 yuan/mt, briefly touched a low of 16,515 yuan/mt early in the week. From the perspective of macro sentiment and fundamental performance, bullish and bearish forces were deadlocked. Mid-week, SHFE lead fluctuated rangebound around the 16,730 yuan/mt level, with a high of 16,820 yuan/mt during the period, and finally closed at 16,700 yuan/mt, up 120 yuan/mt, an increase of 0.72%.

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