Lead Prices Stabilized Amid Volatility This Week, with Downstream Players Adopting a Wait-and-See Approach, Leading to Sluggish Trading Activity [SMM Weekly Review of Refined Lead Spot Market]

In the spot market, refined lead prices were under pressure and consolidated around the 16,800 yuan/mt level this week (May 10-16, 2025). Suppliers in Henan province maintained quotes at a discount of 50-80 yuan/mt against the SMM 1# lead price, and offered a discount of 170-150 yuan/mt against the SHFE lead 2506 contract. Smelters in Hunan province shifted to offering quotes at a discount of 50-30 yuan/mt against the SMM 1# lead price, while some traders offered cargoes at a discount of 180-200 yuan/mt against the SHFE lead 2506 contract. Downstream consumption remained weak in mid-May, with downstream lead-acid battery enterprises adopting a "wait-and-see" approach, resulting in overall sluggish market transactions.

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