SHFE lead breaks below two moving averages, while LME lead fails to break above $1,900 [SMM Lead Morning News]

Published: Oct 20, 2026 09:01 (GMT+8)

Save

[SMM Lead Morning Update: SHFE Lead Breaks Below Two Moving Averages While LME Lead Fails to Hold Above $1,900] SMM, October 20: Overnight, LME lead opened at $1,890/mt. With easing pressure from the US dollar index, LME lead drifted higher throughout the day, touching $1,898.5/mt during the session...

SMM, October 20:

Overnight, LME lead opened at $1,890/mt. As pressure from the US dollar index eased, LME lead drifted higher throughout the day, reaching $1,898.5/mt during the session but still failing to break above $1,900/mt. It ultimately closed at $1,898/mt, up 0.69%.

Overnight, the most-traded SHFE lead 2612 contract opened at 16,115 yuan/mt. In early trading, bulls added positions, and SHFE lead surged, breaking above both the 20-day and 40-day moving averages to reach a high of 16,215 yuan/mt. In the latter part of the session, bullish momentum weakened, and SHFE lead pulled back to around 16,155 yuan/mt, consolidating there before finally closing at 16,155 yuan/mt, up 0.59%. Open interest stood at 69,730 lots, an increase of 2,952 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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

49 mins ago

China's Refined Lead and Alloy Imports Surge 219.94% in Jan-Sept 2026

[Lead Import Data] According to customs data, in September 2026, China's refined lead imports were 9,602 mt, and lead alloy imports were 23,376 mt. From January to September, combined imports of refined lead and lead products totaled 390,157 mt, up 219.94% YoY.

49 mins ago

China's Refined Lead Exports Up 32.77% MoM in Sept, Down 65.56% YoY

[Lead Export Data] According to customs data, in September 2026, China's refined lead exports were 512 mt, up 32.77% MoM and down 65.56% YoY. From January to September, combined exports of refined lead and lead products totaled 35,325 mt, down 25.12% YoY.

49 mins ago

2 hours ago

Lead ingot destocking further boosts lead prices to consolidate on a strong note [SMM Lead Morning Meeting Summary]

[SMM Lead Morning Meeting Summary: Further Destocking of Lead Ingots Boosts Lead Prices, Which Consolidate on a Strong Note] China's Q3 GDP rose 4.5% YoY, with the first three quarters up 4.6%, indicating overall stable economic performance. Recently, many medium and large primary lead smelters in central China and other regions have undergone maintenance, while the production resumptions at secondary lead enterprises have fallen short of expectations...

2 hours ago