Macro Situation Improves, Lead Prices in and outside China Stop Falling and Rebound [SMM Lead Morning Report]

Published: Jun 23, 2026 09:01

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[SMM Lead Morning Brief: Macro Situation Improves, Lead Prices in and outside China Stop Falling and Rebound] SMM June 23 news: Overnight, LME lead opened at $1,956.5/mt, and in early trading, LME lead trended weaker, once falling below $1,950/mt. Later, the Middle East peace talks progressed positively...

SMM June 23 news:

Overnight, LME lead opened at $1,956.5/mt, initially trending weakly and briefly falling below $1,950/mt. Later, as progress in Middle East peace talks improved, LME lead gradually stopped falling and rebounded, fluctuating upward throughout the day, and eventually closed at $1,965/mt, up 0.77%.

Overnight, the most-traded SHFE lead 2608 contract opened at 16,395 yuan/mt. After the holiday, lead ingot inventory buildup coexisted with smelter maintenance, and the market was caught in a mix of bullish and bearish factors. SHFE lead stopped falling and entered a consolidation state, mostly trading between 16,375 and 16,415 yuan/mt, until finally closing at 16,430 yuan/mt, up 0.34%. Its open interest stood at 73,511 lots, an increase of 3,981 lots from the previous trading day.

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