From March 11 to 13, 2026, the 14th InterBattery 2026 was held at the COEX Convention & Exhibition Center in Seoul, South Korea. As the largest and most representative battery industry exhibition in South Korea, it is on par with China’s CIBF and CLNB.

SMM News, March 23: The most-traded SHFE lead 2605 contract opened at around 16,390 yuan/mt during the day. After the opening, bulls remained strong, pushing SHFE lead prices sharply higher to an intraday high of 16,500 yuan/mt. Prices then dropped back slightly and fluctuate rangebound in the 16,440-16,470 yuan/mt range, overall holding up well. During the session, the price center of SHFE lead moved lower, touching a low of 16,320 yuan/mt. Near the close, SHFE lead prices rebounded slightly and finally closed at 16,395 yuan/mt. A small bullish candlestick was recorded, up 105 yuan/mt, or 0.64%. Supply side, discounts quoted by primary lead smelters narrowed slightly from last Friday, while secondary lead quotes held firm and willingness to sell was cautious. Demand side, downstream battery plants mainly purchased on a rigid-demand basis through long-term contracts, while wait-and-see sentiment for spot orders was strong. On the downside, lead prices were supported by rigid scrap battery costs, selling reluctance amid losses in secondary lead, and firm spot premiums. On the upside, pressure came from the impending entry into the demand off-season and weak macro demand. SMM expects lead prices to fluctuate at lows and repair, with limited room both upward and downward. Data source statement: Except for public information, all other data is processed and derived by SMM based on public information, market communication, and SMM's internal database models, and is for reference only and does not constitute decision-making advice.

SMM, March 23: Last Friday, LME lead opened at $1,893/mt. In early trading, prices consolidated within the range of $1,882–1,895/mt, and briefly dipped to $1,880/mt intraday. Bulls then stepped in, driving prices sharply higher to a high of $1,908/mt. After consolidating at high levels, bullish momentum weakened somewhat, and LME lead turned into a fluctuating downward trend. LME lead prices saw wide swings within the range of $1,888–1,898/mt, and finally closed at $1,889/mt. It posted a small bearish candlestick, down $8/mt, or 0.42%. Last Friday night, the most-traded SHFE lead 2605 contract opened higher with a gap at 16,360 yuan/mt. In early trading, SHFE lead prices fell rapidly, hitting a low of 16,325 yuan/mt. SHFE lead then fluctuated upward, but failed to break through resistance, and lead prices fluctuated downward again. After 22:30, prices gradually stabilized and rebounded, reaching a high of 16,445 yuan/mt. SHFE lead prices then fluctuated rangebound within the range of 16,410–16,445 yuan/mt. It finally closed at 16,415 yuan/mt. It posted a small bullish candlestick, up 125 yuan/mt, or 0.77%. Supply side, with lead prices running at low levels, primary lead enterprises showed weak willingness to sell, while secondary lead enterprises held prices firm and were reluctant to sell on cost support, leaving overall market trading sluggish. Demand side, downstream battery plants only maintained rigid-demand procurement through long-term contracts, while remaining cautious and wait-and-see toward spot order purchases. SMM expects SHFE lead prices to remain in the doldrums in the short term.

[SMM Cast Aluminum Alloy Morning Comment: Futures Extended Losses, While Trading Sentiment Recovered Slightly] Market quotes generally moved lower last Friday, with the SMM ADC12 price down 300 yuan/mt to 25,000 yuan/mt. Driven by the price pullback and weekend restocking demand, market trading sentiment recovered somewhat from the previous period, and downstream purchase willingness to buy the dip strengthened, improving transactions for some enterprises. However, overall demand still mainly reflected rigid demand, end-users remained sensitive to price fluctuations, and the pace of restocking stayed cautious. In the short term, ADC12 prices are expected to remain in the doldrums. The pattern of demand being under pressure is unlikely to change in the short term; downstream acceptance of high prices is limited, and coupled with the weak trend in primary aluminum weighing on market sentiment, prices struggled to rise. But with cost support, downside room is also limited. Going forward, close attention should be paid to the trend in primary aluminum and the pace of downstream consumption release.

SMM News, March 20: Lead prices weakened this week, and secondary lead smelters lowered scrap battery purchase prices due to profit pressure. Today, the average scrap battery purchase prices at smelters were: waste e-bike battery at 9,825 yuan/mt, waste automotive lead-acid battery (white shell) at 9,875 yuan/mt, and waste automotive starter lead-acid battery (black shell) at 10,125 yuan/mt. Recyclers also followed the decline, and after prices were cut, downstream collection outlets held back cargoes, with recycling volume decreasing WoW. Smelter inventory diverged, with low-inventory smelters holding only enough for one week of production, while high-inventory smelters made limited just-in-time procurement after small price cuts. According to the SMM survey, market expectations for lead prices were weak, and if prices continue to weaken next week, scrap battery prices are expected to be lowered again. This week, the mainstream self pick-up price at major ports for imported crude lead was at a discount of 50-0 yuan/mt against the SMM #1 lead average price, while some cargoes were at a premium of 50 yuan/mt. Domestic secondary crude lead cargoes were quoted firmly due to insufficient operating rates caused by cost pressure. As of this Friday, the mainstream tax-excluded ex-factory prices stood near 15,200 yuan/mt. Going into next week, imported lead is still expected to arrive at ports one after another, and downstream enterprises have been active in making inquiries. SMM expects domestic secondary crude lead supply to remain tight. » Subscribe to View Historical SMM Metal Spot Prices

SMM News: As of March 20, 2026, the market price for Praseodymium-Neodymium (Pr-Nd) metal in China stabilized temporarily at 890,000–910,000 RMB/ton. This article utilizes the SMM Pr-Nd Terminal Demand Calculation Model to dissect the demand logic for 2026 across three core sectors—New Energy Vehicles (NEVs), Internal Combustion Engine (ICE) vehicles, and Wind Power—explaining the current supply-demand dilemma facing the NdFeB magnet and broader Pr-Nd markets.