The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 25 Apr, 2025

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 24 Apr, 2025

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 23 Apr, 2025

In March 2025, China's refined lead exports declined by 66.57% month-on-month and 34.38% year-on-year, while combined imports of refined lead and lead products surged by 197.96% year-on-year. Due to tight raw material supply and high prices, domestic lead costs are relatively high. In particular, the firm prices of metals such as antimony and tin have directly led to an increase in lead alloy prices. Recently, domestic lead ingot and lead product exports have been at a disadvantage.

[SMM Analysis: Lead-Acid Battery Export Rush Amid Tariff Hikes? Reduced Volume to the US?] Since the beginning of this year, the US has escalated tariff hikes on Chinese goods, and as the US-China trade tariff war intensifies, the automotive industry has become one of the key sectors impacted.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 22 Apr, 2025

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 21 Apr, 2025

【SMM Analysis: Price Spread Advantage Shifts Consumption Towards Primary Lead, Further Reducing Social Inventory】 SMM April 21 News: According to SMM, as of April 21, the total social inventory of SMM lead ingots in five regions stood at 54,600 mt, a decrease of 12,000 mt compared to April 14, and a reduction of 8,300 mt from April 14.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 18 Apr, 2025

In April, China's Secondary Lead Market faces tight raw material supply and cost pressures. Despite no widespread proactive production cuts among Secondary Lead smelters, potential downstream holiday shutdowns and rising scrap battery prices may force passive output reductions. Lead prices are expected to remain under pressure in the short term.