Macro Situation Improves, Lead Prices in and outside China Stop Falling and Rebound [SMM Lead Morning Report]

Published: Jun 23, 2026 09:01

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[SMM Lead Morning Brief: Macro Situation Improves, Lead Prices in and outside China Stop Falling and Rebound] SMM June 23 news: Overnight, LME lead opened at $1,956.5/mt, and in early trading, LME lead trended weaker, once falling below $1,950/mt. Later, the Middle East peace talks progressed positively...

SMM June 23 news:

Overnight, LME lead opened at $1,956.5/mt, initially trending weakly and briefly falling below $1,950/mt. Later, as progress in Middle East peace talks improved, LME lead gradually stopped falling and rebounded, fluctuating upward throughout the day, and eventually closed at $1,965/mt, up 0.77%.

Overnight, the most-traded SHFE lead 2608 contract opened at 16,395 yuan/mt. After the holiday, lead ingot inventory buildup coexisted with smelter maintenance, and the market was caught in a mix of bullish and bearish factors. SHFE lead stopped falling and entered a consolidation state, mostly trading between 16,375 and 16,415 yuan/mt, until finally closing at 16,430 yuan/mt, up 0.34%. Its open interest stood at 73,511 lots, an increase of 3,981 lots from the previous trading day.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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Data: SHFE, DCE market movement (Jun 23)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 Jun , 2026

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