Weekly Review of Lead Futures Prices, 2026.5.25-2026.5.29 [SMM Lead Weekly Review]

SMM May 29 Update:

Affected by the UK bank holiday closure, LME lead resumed trading after reopening on May 26. LME lead opened the week at $2,011.5/mt, moving sideways within the $2,010–2,022/mt range at the start of the session. It then came under pressure, and despite brief recoveries, the decline continued, hitting a low of $1,990.5/mt. Near the close, bears unwound positions, driving a rapid price rally that touched a high of $2,025/mt. The market held up well into the close, ultimately settling at $2,019.3/mt, up $7.8/mt from the weekly open, a gain of 0.39%.

The SHFE lead 2607 contract opened the week at 16,735 yuan/mt. From the weekly open through mid-session, prices held up well within the 16,655–16,820 yuan/mt range, touching a high of 16,820 yuan/mt. Multiple attempts to break through resistance at 16,820 yuan/mt failed, after which the market shifted to fluctuate downward. The price center continued to move lower in the latter half of mid-week, hitting a low of 16,505 yuan/mt. Near the close, prices rebounded slightly, ultimately settling at 16,560 yuan/mt, down a cumulative 175 yuan/mt for the week, a decline of 1.05%.