Since April, the lead-acid battery market has shown off-season trends. Dealers were cautious in procurement, and orders for producers generally pulled back compared to March. Even though lead prices held up well recently, selling prices in the battery wholesale market struggled to catch up, with some regions even showing tendencies toward price cuts and sales promotions. On the producer side, after lead prices rose, factories produced based on sales and reduced non-just-in-time procurement. Some enterprises only made purchases through long-term contracts, and trading activity in the lead spot market was poor.
![Macro Weakness and Divergent Domestic and Overseas Fundamentals: LME Lead Prices Expected to Continue Outperforming SHFE [SMM Weekly Lead Market Forecast]](https://imgqn.smm.cn/usercenter/TmYox20251217171721.jpeg)
![Lead Prices Fluctuated Downward During the Week, Downstream Cautious Amid Fear of Price Decline, Purchase Willingness Low [SMM Refined Lead Spot Market Weekly Review]](https://imgqn.smm.cn/usercenter/lIHfM20251217171721.jpeg)
![SMM Primary Lead Smelter Weekly Operating Rate (May 29, 2026 - June 4, 2026) [SMM Primary Lead Smelting Operating Rate Weekly Review]](https://imgqn.smm.cn/usercenter/mfCMp20251217171721.jpeg)