SMM4 month 8: electric battery market terminal consumption is light, coupled with weak lead, dealer procurement cautious, at the same time battery wholesale market promotional atmosphere is strong, now individual brands 48v20Ah as low as 400 yuan / ton.

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![Secondary Lead Raw Material Recycling Diverged, Secondary Crude Lead Supply Tightened and Prices Are Expected to Remain Firm in the Future [SMM Scrap Battery & Secondary Crude Lead Weekly Review]](https://imgqn.smm.cn/usercenter/mIbTL20251217171721.jpg)
![Downstream Enterprises Bought the Dip, and Primary Lead Enterprise Plant Inventory Continued to Decline [SMM Weekly Review of Primary Lead Inventory]](https://imgqn.smm.cn/usercenter/hrxHx20251217171721.jpeg)
![SHFE Lead Closed Slightly Higher Intraday, Lead Prices Remained Volatile Amid the Tug-of-War Between Sellers and Buyers [Brief Commentary on Lead Futures]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)
