US Dollar Index Repeatedly Hits New Highs, Lead Prices in and outside China Both Fall to New Lows [SMM Lead Morning Report]

Published: Jun 25, 2026 09:01

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[SMM Lead Morning Brief: US dollar index repeatedly hits new highs, lead prices both in and outside China break new lows] Overnight, LME lead opened at $1,938/mt. The severe situation in the Middle East eased, and coupled with the US dollar index repeatedly hitting new highs, nonferrous metals fell under pressure. LME lead showed a stepwise downward trend throughout the day...

SMM, June 25:

Overnight, LME lead opened at $1,938/mt. Easing tensions in the Middle East, combined with the US dollar index repeatedly hitting new highs, put nonferrous metals under pressure, dragging them lower. LME lead declined in a stepwise fashion throughout the day, hitting an intraday low of $1,910/mt, the lowest level in nearly three months. Ultimately, LME lead settled at $1,913.5/mt, down 1.59%.

Overnight, the most-traded SHFE lead 2608 contract opened lower with a gap at 16,250 yuan/mt. Early in the session, bulls added positions, attempting to push SHFE lead back above 16,300 yuan/mt. However, the market was dominated by weak macro sentiment, and SHFE lead fell again, touching an intraday low of 16,200 yuan/mt, a near two-week low, before finally closing at 16,205 yuan/mt, down 0.95%. Open interest stood at 84,650 lots, up 3,164 lots from the previous trading day.

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