Trump is expected to hold a press conference regarding the trade agreement. Pay attention overnight to the impact of macro sentiment on the trend of SHFE lead prices. [Brief Commentary on Lead Futures]

SMM, May 8, 2025

The most-traded SHFE lead 2506 contract opened at 16,805 yuan/mt during the day. It briefly touched a high of 16,865 yuan/mt in the early session. However, due to the poor trading sentiment in the lead ingot market, both upstream and downstream, during the morning spot trading session, and the persistent bearish sentiment among investors, the SHFE lead fluctuated downward in the afternoon, eventually closing at 16,775 yuan/mt, up 0.45%, with an open interest of 34,382. US President Trump posted on his self-created social media platform, mentioning that he would hold a major press conference in the Oval Office (10 p.m. Beijing time on Thursday) regarding a significant trade agreement with a highly respected major country. Attention should be paid to the impact of macro sentiment on the trend of SHFE lead prices overnight.

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