Lead Price Lacks Momentum for Further Increases, May Maintain High-Level Consolidation [SMM Lead Morning News]

Published: Dec 8, 2025 09:01

Save

[SMM Lead Morning Brief: Lead Prices Lack Upward Momentum, May Maintain High-Level Consolidation] SMM Dec 8: Last Friday, LME lead opened at $2,015/mt, and during the Asian session, it continued to hover at highs...

SMM December 8 News:

Last Friday, LME lead opened at $2,015/mt, hovering at highs during the Asian session and mostly fluctuating between $2,015/mt and $2,020/mt. In the late-night session, the US dollar index rose, causing LME lead to give back most of its gains and nearly fall below the $2,000 psychological level, eventually closing at $2,009/mt, down 0.35%.

Last Friday, the most-traded SHFE lead 2601 contract opened at 17,340 yuan/mt. Boosted by lead ingot destocking, it attempted to break through 17,400 yuan/mt at the start of trading but failed. For most of the session, it fluctuated near 17,350 yuan/mt before giving back some gains in the final session, closing at 17,305 yuan/mt, up 0.03%. Open interest decreased by 421 lots to 44,523 lots compared to the previous trading day.

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

20 hours ago

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.

20 hours ago

"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.

20 hours ago

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.

20 hours ago