[SMM Weekly Lead Review: Macro Sentiment Boosts Lead Prices to Fluctuate Higher, Spot Market Spot-Futures Price Spread Widens] In the spot market, during this week (March 1–March 7, 2025), SMM #1 refined lead prices climbed steadily, peaking at 17,200 yuan/mt. Downstream operations gradually resumed, and the supply of refined lead from smelters that completed maintenance in February increased, leading to a simultaneous rise in supply and demand in the spot market.

[SMM Weekly Review on Lead: Macro Sentiment Boosts Lead Prices to Strengthen Amid Fluctuations, Spot Market Spot-Futures Price Spread Widens] In the spot market, this week (March 1–March 7, 2025), SMM #1 refined lead prices climbed steadily, peaking at 17,200 yuan/mt. Downstream operations gradually resumed, and the supply of refined lead from smelters that completed maintenance in February increased, leading to a simultaneous rise in supply and demand in the spot market.