SMM, June 12:
This week, the secondary crude lead average price was 14,875 yuan/mt, down 275 yuan/mt on the week, a decline of 1.8%, with both supply and demand weak and trading sluggish. Next week, it is expected to continue hovering at lows: the supply side, impacted by scrap battery cost support and production cuts, will struggle to recover output; on the demand side, downstream smelters are incurring losses and purchase willingness is sluggish, compounded by thinning trading around the Dragon Boat Festival, leaving no clear upward driver in the short term.
![Macro Situation Changes Frequently; Fundamentals Remain Firm: Subsequent Lead Prices May Dip and Then Rebound [SMM Lead Market Weekly Forecast]](https://imgqn.smm.cn/usercenter/mIbTL20251217171721.jpg)
![Lead prices weaken, raw material costs stay firm, and smelter losses continue [SMM Secondary Refined Lead Weekly Review]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)
![Multiple Factors Drive Significant Decline in Primary Lead Enterprise Inventory [SMM Primary Lead Inventory Weekly Review]](https://imgqn.smm.cn/usercenter/bAjSC20251217171721.jpg)
