Lead social inventories halted 7 weeks of slide amid weak battery demand

Published: Apr 17, 2020 17:05
Consumption in the lead-acid battery market weakened, and this drove lead smelters to lower their production targets. Consumers continued to shift demand to secondary materials as the rising supply of secondary lead expanded discounts of secondary refined lead to as much as 100 yuan/mt against the average prices of SMM 1# lead on an ex-work basis.

SHANGHAI, Apr 17 (SMM) – Social inventories of lead ingots in China held roughly flat from a week ago at 10,000 mt as of April 17, halting the decline over the previous seven consecutive weeks, showed SMM data. 


Consumption in the lead-acid battery market weakened, and this drove lead smelters to lower their production targets. Consumers continued to shift demand to secondary materials as the rising supply of secondary lead expanded discounts of secondary refined lead to as much as 100 yuan/mt against the average prices of SMM 1# lead on an ex-work basis.


Finished products inventories at most refined lead smelters were not high as smelters focused on delivering under long-term contracts. This saw limited amounts of lead cargoes shipped from smelters to social warehouses this week. 


SMM expects further increase in secondary lead supply to send overall social inventories of lead ingot slightly higher next week. The prospects for the consumption of lead-acid batteries remain bleak.  

 

 

 

 

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses
21 hours ago
Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses
Read More
Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses
Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses
Lead prices were in the doldrums, while secondary lead smelters maintained firm offers due to losses. The mainstream spot order ex-factory prices including tax narrowed the discount to the SMM #1 lead average price by 100 yuan/mt, shifting to a premium of 0–25 yuan/mt, with some smelters halting offers and sales.
21 hours ago
"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"
21 hours ago
"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"
Read More
"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"
"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"
Pre-holiday stockpiling by downstream enterprises had largely concluded, and a few had already entered the holiday period, completely suspending procurement. Next week, secondary lead smelters will enter a concentrated wave of production halts and holidays, resulting in sluggish trading activity in the spot market. Offers for spot refined lead orders were sparse, with prices moving in line with the market.
21 hours ago
Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt
21 hours ago
Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt
Read More
Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt
Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt
The domestic secondary crude lead market experienced sluggish transactions. As of February 6, 2026, the ex-factory tax-exclusive offers for domestic secondary crude lead stood at 15,250-15,400 yuan/mt. Downstream refined lead and alloy smelters gradually entered the holiday period, showing weak stockpiling willingness. Overseas lead ingot suppliers basically halted transactions with China due to poor consumption in the Chinese market, with only some previously concluded shipments maintaining normal in-transit transportation. The trading atmosphere in the secondary crude lead market will continue to weaken next week.
21 hours ago
Lead social inventories halted 7 weeks of slide amid weak battery demand - Shanghai Metals Market (SMM)