SMM January 30:
Lead prices remained low, and the scale of production halts at secondary lead smelters expanded. Recycling enterprises were highly cautious of price declines. Coupled with their need to recoup funds before the holiday, the willingness to sell scrap batteries was relatively good during the week. Meanwhile, secondary lead smelting enterprises conducted routine pre-holiday stockpiling, leading to a significant increase in raw material inventory. SMM data showed that the raw material inventory of secondary lead enterprises increased by 34,000 mt WoW this week. Next week, as some scrap battery suppliers gradually enter the holiday period, while some secondary lead smelting enterprises still have stockpiling demand, SMM expects scrap battery prices to hold steady.
Due to weak spot cargo digestion in the domestic market, the inflow enthusiasm for imported crude lead supplies declined, resulting in fewer offers this week. As of January 30, 2026, the ex-factory VAT-exclusive offers for domestic secondary crude lead were 15,450-15,550 yuan/mt, and transactions were also weak. As downstream enterprises gradually enter the holiday period, purchase willingness remained sluggish. SMM expects activity in the secondary crude lead market to decline further next week.
》Order to View SMM Metal Spot Historical Prices
