Persistent Weak Demand, Spot Secondary Crude Lead Market Struggles to Pick Up [SMM Secondary Crude Lead Weekly Review]

Published: Jul 24, 2026 14:42

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SMM July 24 News:

This week, the secondary crude lead market was under pressure, with smelters continuing to incur losses, compounded by tight supply of scrap batteries, and traders generally holding back from selling, adopting a wait-and-see stance. The battery industry was in its traditional off-season, downstream lead ingot and lead alloy enterprises showed weak purchase willingness, and spot secondary crude lead transactions remained sluggish overall. Quotes for imported crude lead diverged significantly: For cargoes containing Sn 0.1% and Sb 0.2%, quotes were at parity with the SMM #1 lead average price, EXW port; for Sn 0.2% and Sb 0.3% cargoes, quotes were at a premium of 100 yuan/mt over the online price, EXW.

Looking ahead to next week, some secondary crude lead smelters that had previously suspended production due to extreme weather have production resumption plans, but end-use demand is unlikely to significantly improve, and downstream purchases will remain limited to essential needs. If lead prices consolidate on a weak note, the profit window for imported crude lead will be narrow, suppliers' motivation to sell will be insufficient, and the spot market is unlikely to see significant improvement.

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.

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