Overnight, LME lead opened at US$2,157.5/ton. Yesterday, LME lead stocks increased by more than 5,000 tons. LME lead fell to a low of US$2,139/ton, and finally closed at US$2,140.5/ton, a decrease of 0.99%.
SHFE 2403 lead contract prices opened at 16245 yuan/mt last evening and finally closed at 16215 yuan/mt, up 0.22%. Open interest decreased 802 lots to 60020 lots.
![Weekly Brief Review of the Lead Concentrate Market (January 26, 2026–January 30, 2026) [SMM Lead Concentrate Weekly Review]](https://imgqn.smm.cn/usercenter/XMxKT20251217171720.jpeg)
![This week, lead prices were in the doldrums, and the discount for primary lead narrowed slightly toward the weekend. [SMM Refined Lead Spot Market Weekly Review]](https://imgqn.smm.cn/usercenter/bAjSC20251217171721.jpg)
![SMM Weekly Operating Rate of Primary Lead Smelters (January 23, 2026–January 29, 2026) [SMM Weekly Review of Primary Lead Operating Rates]](https://imgqn.smm.cn/usercenter/PKFMX20251217171721.jpg)
