Secondary lead production fell in December 2025, down 5.03% MoM but up 10.3% YoY. Secondary refined lead production dropped 9.33% MoM and increased 0.84% YoY.  

[SMM Analysis] Middle East Anti-Dumping Duties to Take Effect in January Next Year: What Impact Will They Have on Lead-Acid Battery Exports? SMM December 31: In late November 2025, according to the official website of the Gulf Cooperation Council (hereinafter referred to as "GCC") Technical Secretariat for Anti Injurious Practices in International Trade and Official Gazette Issue No. 53, the GCC Ministerial Committee composed of industry ministers formally approved the Standing Committee's recommendation to impose definitive anti-dumping duties on electric accumulators used for starting piston engines (HS code 85071000) originating in or exported from China and Malaysia.

[SMM Announcement]Announcement on Updates to Secondary Refined Lead Price Standards and Methodology On August 29, 2025, the State Administration for Market Regulation and the Standardization Administration of China jointly issued the "Secondary Lead Ingot (GB/T 21181-2025)" (hereinafter referred to as the "new national standard"), which will officially take effect on March 1, 2026.

Xizang Zhihui Mining Co., Ltd. (Stock Code: 2546.HK) was successfully listed on the Main Board of Hong Kong Stock Exchange (HKEX) on December 19, 2025.

According to customs data, China's refined lead exports totaled 1,148 mt in November 2025, down 45.31% MoM and decreasing 45.6% YoY. From January to November, combined exports of refined lead and lead materials reached 54,832 mt, up 37.16% cumulatively YoY.

Several new secondary lead projects were commissioned in 2025. From January to November, cumulative production of secondary crude lead reached 3.609 million mt, up 4% YoY. However, losses in secondary refined lead smelting dampened production enthusiasm, with some smelters opting to sell crude lead directly.

In 2025, the fluctuation range of lead prices narrowed YoY, with the SMM average price of secondary refined lead decreasing by 219.3 yuan/mt compared to 2024, a decline of approximately 1.28%. At the same time, the price of raw material waste lead-acid batteries remained high, putting significant pressure on the profitability of secondary lead smelting.

On November 26,  the Shanghai Metals Expo (SME) 2025, organized by SMM Information & Technology Co., Ltd. and SMM Trading Center Co., Ltd.,  wrapped up successfully in Shanghai, China!

On December 5, 2025 SMM APAC Lead-Acid Battery Industry Conference (LABC), organized by Shanghai Metals Market (SMM), concluded successfully at the Holiday Inn & Suites Saigon Airport, Ho Chi Minh City, Vietnam!