Under Macro Influence, LME Lead Nearly Falls Below $1,900 [SMM Lead Morning Express]

Published: Jun 26, 2026 09:01

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[SMM Lead Morning Brief: LME Lead Nearly Fell Below $1,900/mt Under Macro Influence] SMM, June 26: Overnight, LME lead opened at $1,916.5/mt, affected by weak macro sentiment, LME lead remained in the doldrums, with the center of operation continuing to move lower and dipped twice, nearly falling below $1,900/mt......

SMM June 26:

Overnight, LME lead opened at $1,916.5/mt, affected by bearish macro sentiment, remained in the doldrums, with its trading center shifting further down. It twice came close to falling below $1,900/mt, and the intraday low was $1,906/mt, a nearly three-month low. Finally, LME lead closed at $1,912.5/mt, down 0.05%.

Overnight, the most-traded SHFE lead 2608 contract opened at 16,205 yuan/mt. Initially dragged down by the decline in LME lead, SHFE lead dipped to 16,200 yuan/mt again. Then, as bearish macro news faded, SHFE lead gradually recovered in choppy trading, approaching near 16,300 yuan/mt, before closing at 16,270 yuan/mt, up 0.25%. Its open interest stood at 82,716 lots, down 994 lots from the previous trading session.

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