Weekly Review of Lead Futures Prices (January 19-23, 2026) [SMM Lead Weekly Review]

Published: Jan 23, 2026 17:23

Save

SMM Jan 23:

This week, LME lead opened at $2,048.5/mt. It showed a pattern of retreating after a rapid rise. At the beginning of the week, impacted by the Greenland event, the US dollar index moved lower, and LME lead fluctuated at highs, even testing $2,065/mt. Subsequently, pressured by concentrated bear fund entries, LME lead turned from gains to losses, with its center gradually moving lower. After a brief consolidation late in the session, bears again dominated the market, pushing LME lead to extend its decline, with the lowest point touching $2,012/mt. As of 15:00 Beijing time on Jan 23, 2026, it finally closed at $2,027/mt, down $11/mt or 0.54%.

This week, the most-traded SHFE lead 2603 contract opened at 17,400 yuan/mt. After briefly rising to 17,415 yuan/mt early in the session, influenced by the withdrawal of bull funds, the operating center of SHFE lead moved lower. Subsequently, the trend during the week stabilized, basically fluctuating rangebound within the range of 17,030-17,170 yuan/mt. It finally closed at 17,030 yuan/mt, down 380 yuan/mt or 2.17%.

》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

34 mins ago

Geopolitical Risks Eased, Lead Prices Recovered the Previous Day’s Losses [SMM Lead Morning Brief]

[SMM Lead Morning Brief: Geopolitical Risks Ease, Lead Prices Recover the Previous Day’s Losses] SMM, March 5: Overnight, LME lead opened at $1,937/mt. Geopolitical tensions in the Middle East persisted, but the impact of bearish news weakened...

34 mins ago

35 mins ago

Bullish and Bearish Factors Coexist in Domestic and Overseas Markets; Lead Prices Are Expected to Remain in Consolidation [SMM Lead Morning Meeting Minutes]

[SMM Lead Morning Meeting Minutes: Bullish and Bearish Factors Coexisted in Domestic and Overseas Markets; Lead Prices Were Expected to Remain Consolidated] US Treasury Secretary Bessent: A 15% global tariff might be implemented this week, pledged to safeguard the Persian Gulf, and hinted that more measures were forthcoming. Recently, lead-acid battery enterprises in the domestic market basically resumed production, and the overall operating rate in March rebounded sharply from February…

35 mins ago

12 hours ago

NPC Deputy Proposes Expanding Payment Regulation to Benefit More Automotive Suppliers

It was reported that during this year’s Two Sessions, NPC deputy Liu Changhai, Chairman of Camel Group, proposed expanding the scope of application of the Regulation on Ensuring Payment to Small and Medium-Sized Enterprises from small and medium-sized suppliers in the supply chains of large enterprises (mainly 17 key automakers) to above-designated-size enterprises in the automotive industry, thereby creating a “hard constraint on payment terms across the entire industry.” He also proposed clearly defining “completion of goods delivery and acceptance” as the period start point, and strictly prohibiting the disguised extension of payment terms through measures such as deliberately delaying acceptance and the non-compliant use of commercial bills of exchange.

12 hours ago