SMM November 14:
As winter arrives in the Northern Hemisphere and temperatures continue to drop, the season for retiring lead-acid batteries used in automobiles has entered its peak period. Secondary lead smelters in north China generally reported a significant increase in the proportion of water battery arrivals recently, while the proportion of dry cell arrivals declined accordingly. During the week, some secondary lead smelters in north, east, and central China raised their purchase offers. Currently, the high price for scrap e-bike lead-acid battery delivered to smelters tax-excluded ranges from 9,730-9,800 yuan/mt.
In the domestic secondary crude lead market, standard-grade material is scarce; offers for secondary crude lead rich in antimony and tin metals are about 200 yuan/mt higher than standard-grade material. As of November 14, 2025, the mainstream tax-excluded ex-works price for secondary crude lead (standard-grade) was 16,050-16,150 yuan/mt. Additionally, as domestic lead prices retreated after a rapid rise, the import window for lead ingots closed, and recent overseas offers for crude lead declined.
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