Mar 26, 2025 17:20

In March 2025, lead prices rose significantly due to improved supply-demand dynamics and macroeconomic factors. Early-month concerns over US tariffs and CPI data eased, while China’s pro-consumption policies and declining inventories supported prices. Shanghai lead prices hovered around 17,250 yuan/ton. High raw material costs pressured battery producers, and cautious dealer purchasing ahead of the off-season limited upside. By late March, LME inventory increases weighed on prices. For April, supply-side constraints and high scrap battery costs are expected to keep lead prices volatile.