Weekly Review of Lead Futures Prices (February 23-27, 2026) [SMM Lead Weekly Review]

SMM February 27:

This week, LME lead opened at $1,964.0/mt. At the beginning of the week, affected by the short-term tug-of-war between sellers and buyers, pre-holiday inventory buildup, and limited post-holiday destocking, it fluctuated downward, hitting a weekly low of $1,949.5/mt. Subsequently, sentiment recovered, and it fluctuated upward, touching the weekly high of $1,996.0/mt. After a slight pullback from the high, it held up well. As of February 27, it finally closed at $1,986.5/mt, up $20/mt WoW, a gain of 1.02%.

This week, the most-traded SHFE lead contract opened at 16,855 yuan/mt. At the beginning of the week, driven by post-holiday sentiment, it surged to 16,980 yuan/mt. Later, pressured by the dual decline in spot supply and demand, it pulled back to 16,620 yuan/mt. In the latter half of the week, with the gradual resumption of work in the industry chain, it stabilized and rebounded, consolidating in the range of 16,750-16,800 yuan/mt, and finally closed at 16,840 yuan/mt, up 140 yuan/mt for the week, a gain of 0.84%.

》Order to view SMM metal spot historical prices