[29 October SMM lead data]

South Korea’s Korea Zinc plans to invest $6.6 billion to develop a major critical minerals smelter and U.S. headquarters in Tennessee, marking the state’s largest-ever private investment. The project will span Clarksville and Gordonsville, including a new manufacturing facility and the reopening of a former mine. The integrated smelter will produce 13 nonferrous metals such as zinc, copper, and lead, supporting key industries including defense, aerospace, and automotive. The project is expected to create over 740 jobs and reduce U.S. reliance on China for critical minerals. Developed in partnership with the U.S. government, which may take a 40% stake, construction is scheduled to begin in 2027, with site preparation starting in 2026.

[Secondary Lead Market Dynamics] Lead prices rose significantly. Downstream battery producers showed poor acceptance of high-priced supplies, and secondary refined lead offered at a premium of 25 yuan/mt against the SMM #1 lead average price delivered to plant was difficult to sell. Most downstream enterprises indicated that they were not short of supplies at present, with low purchase willingness.

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 08 Apr , 2026