Lead Price Center Shifted Slightly Upward, Spot Transactions Eased WoW [SMM Refined Lead Spot Market Weekly Review]

In the spot market, the price center of lead shifted slightly upward this week (April 13-17, 2026). Downstream buyers mostly made just-in-time procurement on demand and restocked on dips, with weak purchase willingness at high prices. Overall transactions in the spot market eased slightly WoW. This week, mainstream transaction prices of primary lead in Henan maintained parity or a slight discount against SMM #1 lead. Traders offered at a discount of 180-130 yuan/mt against the SHFE lead 2605 contract. At the beginning of the week, smelters held back from selling at low prices, and spot orders were limited. In Hunan, prices gradually shifted from a discount to parity or a slight premium during the week, with some plants holding prices firm on shipments after their inventory was sold out. In Guangdong, suppliers maintained offers at a premium of 25-100 yuan/mt against SMM #1 lead, with transactions supported by just-in-time procurement.