Weekly Review of Lead Prices (March 3, 2025 - March 7, 2025) [SMM Lead Weekly Review]

SMM March 7 News:

This week, LME lead opened at $1,994.5/mt. The ongoing fermentation of US tariff hike news heightened market concerns, causing the early trading center of LME lead to gradually shift downward, hitting a low of $1,983/mt. In the latter half of the week, the US dollar index refreshed a four-month low, leading to a broad rise in base metals. LME lead reached a high of $2,054.5/mt and closed at $2,027.5/mt as of 15:00 on Friday, up by 2.04%.

This week, the most-traded SHFE lead 2504 contract opened at 17,190 yuan/mt. The increase in lead ingot supply coexisted with an imbalance in raw material supply. In the first half of the week, the futures market saw a stalemate between bulls and bears, with a low of 17,180 yuan/mt. In the latter half of the week, boosted by macro policy expectations, bulls increased their positions, and SHFE lead fluctuated upward, reaching a high of 17,530 yuan/mt and closing at 17,420 yuan/mt, up by 1.34%.

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