SMM May 16 news: This week, LME lead opened at $1,986/mt, touching a low of $1,963/mt early in the week. It oscillated around the $1,985/mt level during the week. US retail sales in April slowed down significantly, and PPI unexpectedly declined as policies such as tariffs began to curb demand. The center of the US dollar index moved lower. LME lead probed higher to $2,005/mt in the tail end of the week before pulling back slightly. As of 15:00 Beijing time on May 16, 2025, it closed at $1,984/mt, down 0.08%.

[SMM Shanghai and Other 1# Lead Markets: SHFE Lead's Price Center Moves Downward, Downstream Enterprises Only Make Just-in-Time Procurement] SMM reported on May 16: In the Shanghai market, Chihong lead was priced at 16,935-16,980 yuan/mt, with a premium of 20-30 yuan/mt against the SHFE lead 2506 contract. Honglu lead was priced at 16,900-16,930 yuan/mt, with a discount of 20-0 yuan/mt against the 2506 contract. In the Jiangsu-Zhejiang region, JCC lead was quoted at 16,900-16,930 yuan/mt, with a discount of 20-0 yuan/mt against the 2506 contract. The price center of SHFE lead moved downward compared to the previous day, with suppliers selling at market prices and a few enterprises reluctant to sell at low prices...

[SMM Lead Midday Review: Strong "lying flat" sentiment among downstream enterprises, sluggish spot order transactions of refined lead] SMM reported on May 16: Today, the SMM 1# lead average price fell by 25 yuan/mt from yesterday to 16,775 yuan/mt, with a price difference between primary metal and scrap of 50 yuan/mt. The number of enterprises shipping goods today decreased compared to yesterday, with tax-included ex-factory quotations against the SMM 1# lead average price ranging from a reduction of 100 to 0 yuan/mt.

Overnight, LME copper opened at $9,527.5/mt. Prices fluctuated at the beginning of the session, dipping to a low of $9,511.0/mt during the session, before fluctuating upward.

[SMM Lead Morning Meeting Summary: Macro Tailwinds Nearing an End, Domestic Social Inventory Buildup Weighs on Lead Prices, Which Are in the Doldrums] On the fundamentals side, the lead-acid battery market is in the traditional off-season in May. The battery inventory accumulated during the Labour Day holiday is difficult to be quickly digested, and the demand for raw lead ingots is limited. As the SHFE lead delivery approaches, suppliers are transferring their inventory to delivery warehouses, leading to a simultaneous increase in the social inventory of lead ingots in warehouses. In addition, as lead prices fluctuate and rebound, the profitability of secondary lead has improved somewhat, and some companies are planning to resume production. The expected increase in supply poses a risk of further inventory buildup in the social inventory of lead ingots...