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The silver price’s blistering rally came to an abrupt halt on Friday as XAG/USD collapsed by almost 30%, briefly plunging from Thursday’s record high above $120 to near $83.

Feb 2, 2026 15:52

Silver Price Forecast: 30% Historic CRASH - Buy The Dip Or Run?

[SMM Analysis] Tungsten Inventory Depletion in Europe Triggers Panic Buying, Accelerating Global Price Uptrend

Last week, surging European tungsten prices, driven by low inventories and panic buying, highlighted a severe supply-demand imbalance. While the scrap market sees a global shift due to high Asian premiums, EQR’s progress in Spain and Australia is strategically reshaping the non-Chinese supply landscape. Despite post-Lunar New Year caution, the upward price trend remains firm.

Feb 2, 2026 16:35

[SMM Conference] Join Industry Leaders & Navigate Green Transition at the GRMI 2026 in Tokyo this May

Shanghai Metals Market (SMM) is thrilled to announce that the 2026 (3rd) Global Renewable Metal Industry Summit will be held in Tokyo, Japan, on May 11-12, 2026, to promote industry exchange and cooperation against the backdrop of the global push for sustainable development and resource recycling.

Feb 2, 2026 10:41

[SMM Analysis] January Lithium Carbonate Market: A Roller Coaster Ride Fueled by Sentiment & Pre-holiday Buying

[SMM Analysis] In the first month of 2026, the lithium carbonate market experienced a retreat after a rapid rise.

Jan 30, 2026 19:03

[SMM Analysis: Reshaping Cu Cons Trade Flows: China's New Raw Material Strategy Landscape Amid Geopolitical Chessboard] According to data from the General Administration of Customs, China imported 2.704 million dmt of copper ore and concentrates in December 2025, a month-on-month increase of 7% and a year-on-year increase of 7.2%. From January to December, China’s cumulative imports of copper ore and concentrates reached 30.365 million dmt, a cumulative year-on-year increase of 7.8%.

Jan 31, 2026 23:05

In early 2026, India's PV market exhibited a unique "dual-track" pricing characteristic for modules, driven by policy barriers and local capacity ramp-up.

Jan 30, 2026 18:54

SMM Analysis：As of January 30, the most-traded SHFE zinc contract closed at 25,835 yuan/mt, up 2,525 yuan/mt for the month, a gain of 10.83%. Zinc prices rose significantly in January, hitting a low of 23,410 yuan/mt early in the month and reaching a high of 26,985 yuan/mt by month-end, with the overall price center shifting notably higher. With the Chinese New Year holiday approaching, how will zinc prices perform in February......

Jan 30, 2026 17:42

All Copper Aluminum Lead Zinc Tin Nickel New Energy Photovoltaic Ferrous Metals Rare Earth Scrap Metals Minor-Metals Precious Metals Automotive Others

Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses

Feb 6, 2026 19:50

"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"

Feb 6, 2026 19:49

Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt

Feb 6, 2026 19:48

Secondary Lead Smelters See 20K MT Inventory Rise; Market Sluggish as Holidays Approach

SMM data showed that raw material inventories at secondary lead smelters increased by 20,000 mt WoW. With more secondary lead smelters and scrap battery recycling enterprises entering holidays next week, both supply and demand in the market are expected to remain sluggish. SMM predicts that scrap battery prices will continue to fluctuate at lows.

Feb 6, 2026 19:47

"Lead Prices Decline as Smelters Cut Scrap Battery Purchases and Inventory Rises"

Lead prices continued to weaken this week, with losses deepening for secondary lead smelters. Most enterprises proactively reduced scrap battery purchase prices to control costs. Meanwhile, recycling companies actively increased shipments due to risk aversion and capital repayment needs, leading to a noticeable rise in raw material inventories for secondary lead smelters.

Feb 6, 2026 19:46

Lead Prices Stagnate as Battery Producers Buy Low, Smelter Cuts Tighten Supply

Lead prices were in the doldrums this week, with some downstream battery producers buying the dip and stockpiling as needed. Additionally, the scale of production cuts and shutdowns at secondary lead smelters expanded, slowing down the supply pace. Combined with downstream demand and tightening supply, weekly finished product inventories of secondary lead dropped by 9,100 mt to 25,700 mt.

Feb 6, 2026 19:45

Battery Makers Enter Holiday, Low Lead Prices Cause Smelter Shutdowns; Anhui Aims to Resume Production Soon

Downstream battery producers have successively entered the holiday period, with low purchase intentions; coupled with low lead prices, most secondary lead smelters are also gradually suspending production. Due to expectations that environmental protection-related controls in Anhui will be lifted next week, local operating enterprises indicated that production is expected to resume.

Feb 6, 2026 19:44

Environmental Controls Lead to Production Cuts in Anhui, Operating Rates Drop by Over 16% This Week

At the beginning of the week, enterprises in production in Anhui Province implemented production restrictions due to environmental protection-related controls. Coupled with the additional enterprises that suspended production and took holidays over the previous weekend, the regional operating rate decreased by more than 16 percentage points this week.

Feb 6, 2026 19:43

SMM China Secondary Lead Operating Rate Falls 5.81% WoW to 38.83% in Early Feb 2026

The SMM China secondary lead weekly operating rate in four provinces was 38.83% from January 30 to February 5, 2026, down 5.81 percentage points WoW.

Feb 6, 2026 18:33

Spot orders for refined lead are sparse in quantity, and smelters have halted production for holidays due to loss pressures. [SMM Secondary Refined Lead Weekly Review]

SHFE Lead Forms M-Shaped Pattern, Records Six Consecutive Declines [Lead Futures Brief Review]

Feb 6, 2026 15:27

Supply and demand fundamentals were weak before the holiday, lead prices are expected to remain weak next week [SMM Weekly Lead Market Forecast]

Feb 6, 2026 15:15

Lead-Acid Battery Market Sees Increasing Chinese New Year Atmosphere, Producers Begin Holidays [SMM Lead-Acid Battery Weekly Operation Comment]

Feb 6, 2026 15:12

Lead Prices Fluctuated Downward, Lead-Acid Battery Enterprises Conducted Final Stockpiling [SMM Lead-Acid Battery Market Weekly Review]

Feb 6, 2026 15:11

Suppliers Sold Goods at Large Discounts, Primary Lead Enterprise Plant Inventory Dropped Nearly 20,000 mt Weekly [SMM Primary Lead Inventory Weekly Review]

Feb 6, 2026 15:10

Waste Lead-Acid Battery Prices Fluctuate at Lows, Secondary Crude Lead Market Trading Sluggish [SMM Scrap Battery & Secondary Crude Lead Weekly Review]

Feb 6, 2026 14:56

Weekly Brief Review of the Lead Concentrate Market (February 02, 2026 - February 06, 2026) [SMM Lead Concentrate Weekly Review]

Feb 6, 2026 14:53

Silver Price Forecast: 30% Historic CRASH - Buy The Dip Or Run?

The silver price’s blistering rally came to an abrupt halt on Friday as XAG/USD collapsed by almost 30%, briefly plunging from Thursday’s record high above $120 to near $83.

Feb 2, 2026 15:52

[SMM Analysis] Tungsten Inventory Depletion in Europe Triggers Panic Buying, Accelerating Global Price Uptrend

Feb 2, 2026 16:35

[SMM Conference] Join Industry Leaders & Navigate Green Transition at the GRMI 2026 in Tokyo this May

Feb 2, 2026 10:41

[SMM Analysis] January Lithium Carbonate Market: A Roller Coaster Ride Fueled by Sentiment & Pre-holiday Buying

Jan 30, 2026 19:03

[SMM Analysis] Reshaping Cu Cons Trade Flows: China's New Raw Material Strategy Landscape Amid Geopolitical Chessboard

Jan 31, 2026 23:05

[SMM Analysis] India PV Market Observation: DCR Module Premium Pulls Back, Price Trend Returns to Cost Logic

Jan 30, 2026 18:54

[SMM Analysis] Zinc Prices Hit Over Three-Year High in January, How Will They Perform in February?

Jan 30, 2026 17:42

Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses

Feb 6, 2026 19:50

"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"

Feb 6, 2026 19:49

Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt

Feb 6, 2026 19:48

Secondary Lead Smelters See 20K MT Inventory Rise; Market Sluggish as Holidays Approach

Feb 6, 2026 19:47

"Lead Prices Decline as Smelters Cut Scrap Battery Purchases and Inventory Rises"

Feb 6, 2026 19:46

Lead Prices Stagnate as Battery Producers Buy Low, Smelter Cuts Tighten Supply

Feb 6, 2026 19:45

Battery Makers Enter Holiday, Low Lead Prices Cause Smelter Shutdowns; Anhui Aims to Resume Production Soon

Feb 6, 2026 19:44

Environmental Controls Lead to Production Cuts in Anhui, Operating Rates Drop by Over 16% This Week

Feb 6, 2026 19:43

SMM China Secondary Lead Operating Rate Falls 5.81% WoW to 38.83% in Early Feb 2026

Feb 6, 2026 18:33

Spot orders for refined lead are sparse in quantity, and smelters have halted production for holidays due to loss pressures. [SMM Secondary Refined Lead Weekly Review]

Feb 6, 2026 16:21

Data: SHFE, DCE market movement (Feb 06)

Feb 6, 2026 16:14

Procurement Efforts by Downstream Enterprises Weaken, Secondary Lead Finished Product Inventories Expected to Shift to an Upward Trend Next Week [SMM Secondary Lead Inventory Weekly Review]

Feb 6, 2026 16:11

Weekly Review of Lead Futures Prices (Feb 2, 2026–Feb 6, 2026) [SMM Lead Weekly Review]

Feb 6, 2026 16:08

SHFE Lead Forms M-Shaped Pattern, Records Six Consecutive Declines [Lead Futures Brief Review]

Feb 6, 2026 15:27

Supply and demand fundamentals were weak before the holiday, lead prices are expected to remain weak next week [SMM Weekly Lead Market Forecast]

Feb 6, 2026 15:15

Lead-Acid Battery Market Sees Increasing Chinese New Year Atmosphere, Producers Begin Holidays [SMM Lead-Acid Battery Weekly Operation Comment]

Feb 6, 2026 15:12

Lead Prices Fluctuated Downward, Lead-Acid Battery Enterprises Conducted Final Stockpiling [SMM Lead-Acid Battery Market Weekly Review]

Feb 6, 2026 15:11

Suppliers Sold Goods at Large Discounts, Primary Lead Enterprise Plant Inventory Dropped Nearly 20,000 mt Weekly [SMM Primary Lead Inventory Weekly Review]

Feb 6, 2026 15:10

Waste Lead-Acid Battery Prices Fluctuate at Lows, Secondary Crude Lead Market Trading Sluggish [SMM Scrap Battery & Secondary Crude Lead Weekly Review]

Feb 6, 2026 14:56

Weekly Brief Review of the Lead Concentrate Market (February 02, 2026 - February 06, 2026) [SMM Lead Concentrate Weekly Review]

Feb 6, 2026 14:53

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