Weekly Review of Lead Prices (May 19, 2025 - May 23, 2025) [SMM Weekly Lead Review]

Published: May 23, 2025 16:12

Save

SMM May 23 report:

This week, LME lead opened at $1,997/mt, touching a high of $2,009/mt early in the week. Mid-week, influenced by a combination of macro sentiment and spot performance, it formed a "W-shaped" pattern, reaching a low of $1,947.5/mt. As of 15:00 Beijing time on May 23, 2025, it closed at $1,985/mt, down 1.05%.

This week, the SHFE lead 2507 contract opened at 16,920 yuan/mt, touching a high of 16,990 yuan/mt early in the session. It oscillated around the 16,840 yuan/mt level during the week. Due to unstable macro sentiment and weak spot performance, SHFE lead reached a low of 16,655 yuan/mt. It rebounded and rallied before the close, finally closing at 16,860 yuan/mt, down 0.21%.

》Subscribe to view SMM metal spot historical prices

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 19:50

Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses

Lead prices were in the doldrums, while secondary lead smelters maintained firm offers due to losses. The mainstream spot order ex-factory prices including tax narrowed the discount to the SMM #1 lead average price by 100 yuan/mt, shifting to a premium of 0–25 yuan/mt, with some smelters halting offers and sales.

Feb 6, 2026 19:50

Feb 6, 2026 19:49

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

Pre-holiday stockpiling by downstream enterprises had largely concluded, and a few had already entered the holiday period, completely suspending procurement. Next week, secondary lead smelters will enter a concentrated wave of production halts and holidays, resulting in sluggish trading activity in the spot market. Offers for spot refined lead orders were sparse, with prices moving in line with the market.

Feb 6, 2026 19:49

Feb 6, 2026 19:48

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

The domestic secondary crude lead market experienced sluggish transactions. As of February 6, 2026, the ex-factory tax-exclusive offers for domestic secondary crude lead stood at 15,250-15,400 yuan/mt. Downstream refined lead and alloy smelters gradually entered the holiday period, showing weak stockpiling willingness. Overseas lead ingot suppliers basically halted transactions with China due to poor consumption in the Chinese market, with only some previously concluded shipments maintaining normal in-transit transportation. The trading atmosphere in the secondary crude lead market will continue to weaken next week.

Feb 6, 2026 19:48