Weekly Review of Lead Futures Prices (2026.5.4-2026.5.8) [SMM Lead Weekly Review]

SMM, May 8:

LME lead opened at $1,948/mt this week. Prices dipped slightly at the beginning of the session, touching a low of $1,946.5/mt before rebounding in a volatile manner, briefly reaching a high of $1,990/mt. Prices then pulled back slightly on profit-taking and consolidated briefly. Toward the end of the session, prices came under pressure again and weakened, ultimately closing at $1,966/mt, up $18/mt from the weekly open, a gain of 0.92%.

Due to the Labor Day holiday closure, the most-traded SHFE lead pb2606 contract resumed trading on May 6, opening at 16,690 yuan/mt. After the open, driven by bulls, prices surged rapidly, touching a high of 17,005 yuan/mt. However, under the dual pressure of lead ingot inventory buildup and weak downstream consumption, the price center pulled back in a volatile fashion, dipping to a low of 16,610 yuan/mt near the close. Losses narrowed slightly toward the end of the session, with prices ultimately closing at 16,710 yuan/mt, up 80 yuan/mt from the pre-holiday level, a gain of 0.48%.