Lead prices fluctuated and consolidated this week, while secondary refined lead quotations remained firm. [SMM Weekly Review of the Refined Lead Spot Market]

In the spot market, refined lead prices fluctuated rangebound this week (April 19, 2025 - April 25, 2025), with prices strengthening on Friday. Suppliers in Henan offered a slight discount of 25-50 yuan/mt for SMM #1 lead, and as the weekend approached, the discount for SHFE lead 2505 slightly widened to 50-100 yuan/mt. Smelters in Hunan narrowed the premium for SMM #1 lead to 0-25 yuan/mt, while in Yunnan, the discount for primary lead against SMM #1 lead remained at 160-180 yuan/mt. As the week approached month-end and the Labour Day holiday, downstream lead-acid battery stocking enthusiasm was slightly sluggish compared to the same period in previous years, with some suppliers offering discounts for SMM #1 lead. In the secondary refined lead sector, the number of enterprises cutting production due to cost and profit impacts increased, providing bottom support for lead prices. Refined lead suppliers maintained firm offers, and some downstream rigid demand shifted to the primary lead market. Click to view the SMM metal industry chain database.