Lead Market Stagnant: Low Supplier Enthusiasm and Inverted Secondary-Primary Prices

Published: May 13, 2026 13:56

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[Secondary Lead Market Dynamics] The off-season trend in lead-acid battery consumption remained unchanged, and spot lead prices were in the doldrums. Secondary refined lead suppliers showed low enthusiasm in offering quotes, and their prices remained relatively firm, resulting in an inversion between secondary lead and primary lead prices. Mainstream ex-factory prices were at a premium of 0-50 yuan/mt against the SMM #1 lead average price, with tax-exclusive refined lead ex-factory quotes around 15,250 yuan/mt. Downstream inquiries were moderate, but purchasing willingness was insufficient.

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