This week, domestic smelters continued to indicate that there were no signs of easing in the supply-demand dynamics of lead concentrates in the market. Imported ore prices remained predominantly quoted at -$150 to -$130/dmt, with individual smelters mentioning that traders attempted to offer lower TCs for silver-lead ore, but no actual transactions were concluded. Quotations in the China lead concentrates market remained stable. Although some mines lowered zinc concentrate TCs due to declining sulphuric acid prices, lead concentrate TCs were not adjusted accordingly, and the payable indicators for silver content across various grades of lead concentrates in the market remained firm.
![SMM Complete Summary of March 2026 Import and Export Data [SMM Data]](https://imgqn.smm.cn/usercenter/EFLYr20251217171714.jpeg)


