Weekly Review of Lead Futures Prices (September 15-19, 2025) [SMM Lead Weekly Review]

SMM September 19:

This week, LME lead opened at $2,015/mt. Data released by the New York Fed on Monday showed that the US September manufacturing index plummeted by nearly 21 points, pushing LME lead down to $1,991/mt. On Wednesday, Eastern Time, the US Fed cut interest rates by 25 basis points as expected, and the US dollar index declined, leading LME lead to rebound and touch a high of $2,017.5/mt. In the latter half of the week, it fluctuated around the $2,005/mt level. As of 15:00 Beijing time on September 19, 2025, it finally closed at $2,010/mt, down 0.45%.

This week, the most-traded SHFE lead 2510 contract opened at 17,050 yuan/mt. At the beginning of the session, it lightly touched a low of 17,005 yuan/mt. As e-bike battery consumption improved, lead prices rebounded and rose to a high of 17,205 yuan/mt. Due to the approaching Mid-Autumn Festival and National Day holidays, downstream stockpiling activities, as per tradition, still provided support expectations for lead prices. Lead prices held up well and finally closed at 17,150 yuan/mt, up 0.65%.

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