Lead ingot inventory draws down, LME lead jumps to near three-week high [SMM Lead Morning News]

Published: Oct 22, 2026 09:01 (GMT+8)

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[SMM Lead Morning News: Lead Ingot Inventory Drawdown Pushes LME Lead to Near Three-Week High] SMM, October 21: Overnight, LME lead opened at $1,894.5/mt. During Asian trading hours, LME lead consolidated, briefly breaking above the $1,900/mt mark...

SMM, October 22:

Overnight, LME lead opened at $1,897/mt. During Asian trading hours, LME lead continued to consolidate, hovering around $1,895/mt for most of the session. Entering European trading hours, LME lead gradually drifted higher and successfully broke above the $1,900/mt mark, reaching an intraday high of $1,911/mt, its highest level in nearly three weeks. Toward the close, LME lead gave back some of its gains, ultimately settling at $1,903.5/mt, up 0.29%.

Overnight, the most-traded SHFE lead 2612 contract opened at 16,105 yuan/mt. This week, lead ingot warrant inventory has been gradually declining. SHFE lead rebounded after dipping in early trading but was unable to break above the 20-day moving average, ultimately settling at 16,135 yuan/mt, up 0.09%. Open interest stood at 72,494 lots, down 3,818 lots from the previous trading day.

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