SMM November 7:
Some secondary lead smelters slightly increased their purchase prices for scrap batteries during the week, while most enterprises maintained stable purchase offers due to sufficient raw material inventory. Currently, the mainstream tax-inclusive price of e-bike lead-acid battery scrap delivered to smelters remained stable at 9,950-10,100 yuan/mt. As the operating rate of secondary lead maintained an upward trend, with the digestion of smelters' raw material inventory, the purchase price of waste lead-acid batteries may still have room for increase in the future.
Domestically produced secondary crude lead remained scarce in supply, and lead alloy smelters reported firm transaction prices; as of November 7, 2025, the mainstream ex-works tax-exclusive price of secondary crude lead was 15,950-16,100 yuan/mt. Unlike domestic secondary crude lead, imported crude lead was abundant in supply and of high quality. Depending on the antimony and tin content, the mainstream self pick-up price was at a premium of 0-400 yuan/mt against the SMM #1 lead average price.
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