Lead Concentrates Market Weekly Brief (July 6, 2026 - July 10, 2026) [SMM Lead Concentrates Weekly Review]

This week, Pb50 domestic TCs (weekly) stayed flat at 150 yuan/mt Pb, and Pb60 import TCs (weekly) stayed flat at -$170/dmt. During the week, TCs were largely stable, with domestic high-lead ores remaining tight. For ores with 70% lead, 500-600g silver, and 2%-3% zinc not priced, TCs were transacted at around -1,500 yuan/mt Pb. The mainstream transaction prices for imported lead concentrates with silver content above 1,000g ranged from -$220 to -$250/dmt. Smelters remained keen on purchasing high-lead or high-grade ores. Additionally, with frequent typhoon weather in China recently, some mines in Guangxi suspended production due to the typhoon, and some mines in Henan were also in a state of shutdown because of safety and environmental protection inspections. Meanwhile, China's ore-derived lead smelters entered centralized maintenance in Q3, so the overall tight ore supply situation has not yet changed, and TCs remained at low levels. The silver coefficient for lead concentrates consolidated mainly due to silver prices moving sideways, with the overall coefficient unchanged for now.