[SMM Lead Morning Meeting Summary: Coexistence of Energy Supply Pressure and Lead Ingot Inventory Buildup May Lead to Continued Price Consolidation] The escalation of geopolitical tensions in the Middle East, obstruction of major shipping routes, and expectations for rising transportation costs are anticipated to increase pressure on Europe's energy supply. After the domestic holiday, the lead market has experienced severe inventory buildup...
Mar 2, 2026 09:00[SMM Shanghai and Other 1# Lead Markets: Lead Prices Fall, Downstream Buyers Adopt Wait-and-See Approach, Spot Transactions Weaken] SMM News on June 18: In the Shanghai market, Chihong and Honglu lead were quoted at 16,780-16,860 yuan/mt, with quotations at discounts of 50-0 yuan/mt against the SHFE lead 2507 contract. SHFE lead prices fluctuated and pulled back, with suppliers maintaining discounted quotations. Among them, cargoes self-picked up from primary lead smelters were quoted at discounts of 30 yuan/mt to premiums of 50 yuan/mt against the SMM 1# lead average price...
Jun 18, 2025 12:39[SMM Shanghai and Other #1 Lead Markets: Secondary Lead and Primary Lead Prices Inverted, Some Downstream Players Purchase on Dips as Needed] SMM May 30 Report: In the Shanghai market, Chihong and Honglu lead were priced at 16,535-16,565 yuan/mt, quoted at a discount of 20-0 yuan/mt against the SHFE lead 2506/2507 contracts. In the early trading session, SHFE lead prices plummeted, prompting suppliers to quote cautiously, with some narrowing their discounts...
May 30, 2025 12:21[SMM Lead Morning Meeting Summary: Weak Consumption Before the Holiday Drags Down Lead Prices, Follow-Up Focus on Production Trends in the Ingot Sector] Trump Met with Powell, Their First Meeting Since November 2019, with Trump Demanding an Interest Rate Cut and Powell Insisting on Policy Independence. As the Traditional Dragon Boat Festival Holiday Approached, Suppliers Were Generally Active in Selling Their Cargoes, and the Spot Market Generally Conducted Transactions at a Discount. The Spread Between Futures and Spot Prices Widened to Around 200 Yuan/mt, Prompting Some Traders to Transfer Their Cargoes to Delivery Warehouses...
May 30, 2025 09:00[SMM Shanghai and Other #1 Lead Markets: Lead Price Center Moves Lower, Some Suppliers Expand Discount for Sales] SMM May 28 Report: In the Shanghai market, Chihong and Honglu lead are priced at 16,700-16,760 yuan/mt, quoted at a discount of 20-0 yuan/mt against the SHFE lead 2506 contract. In the Jiangsu-Zhejiang region, JCC lead is priced at 16,700-16,760 yuan/mt, quoted at a discount of 30-0 yuan/mt against the 2506/2507 contracts. SHFE lead continues to be in the doldrums, with suppliers selling at market prices...
May 28, 2025 12:35[SMM Shanghai and Other 1# Lead Markets: Price Center Moves Lower, Downstream Enterprises Purchase as Needed] SMM May 27 Report: In the Shanghai market, Chihong and Honglu lead are priced at 16,760-16,785 yuan/mt, quoted at a discount of 10-0 yuan/mt against the SHFE lead 2506 contract. In the Jiangsu-Zhejiang region, JCC lead is priced at 16,760-16,785 yuan/mt, quoted at a discount of 10-0 yuan/mt against the 2506 contract. The price center of SHFE lead has moved slightly lower, and there have been no significant changes in the discounts quoted by suppliers...
May 27, 2025 12:37Dear users, On August 29, 2025, the State Administration for Market Regulation and the Standardization Administration of China jointly issued the "Secondary Lead Ingot (GB/T 21181-2025)" (hereinafter referred to as the "new national standard"), which will officially take effect on March 1, 2026. Compared to the "Secondary Lead and Lead Alloy Ingot (GB/T 21181-2017)" (hereinafter referred to as the "old national standard"), the new national standard revised the scope. It changed from "This standard applies to secondary lead and its alloy ingots produced by smelting and processing using lead-containing scrap as raw material, mainly used in batteries, alloys, chemical industry, and other fields" to "This document applies to secondary lead ingots produced by pyrometallurgical smelting and processing using waste lead-acid batteries and recycled lead and lead alloy materials as raw materials, mainly used in lead-acid batteries, alloys, chemical industry, and other fields." Regarding secondary lead grades, the ZSPb99.994 and ZSPb99.992 secondary lead ingot grades were deleted the ZSPb99.990, ZSPb99.986, and ZSPb99.983 secondary lead ingot grades were added. Details are as follows: With the development and changes in the secondary lead industry, the actual production and use of secondary lead in the market in recent years have already diverged significantly from the old national standard. In addition to changes in the main element lead content, the bismuth (Bi) content has also undergone substantial changes. According to SMM's understanding of major producers and users of secondary lead, the distribution by bismuth content usage is as follows: enterprises using bismuth content ≤0.008% account for about 15% those using ≤0.012% account for about 60% and those using ≤0.015% account for about 25%. Furthermore, based on its price assessment methodology, SMM solicited market suggestions on the specifications for the secondary refined lead price. Market feedback recommended that the price collection standard for SMM's secondary refined lead price reference the new national standard for secondary lead, with grade ZSPb99.99 accounting for 24%, grade ZSPb99.986 for 66%, and grade ZSPb99.983 for 10%. Considering that the current actual usage in the secondary lead market covers the three grades specified in the new national standard for secondary lead, SMM will define the specifications for the national and regional prices of secondary refined lead as ZSPb99.983-99.99%, based on real market transaction conditions. The new standard will be officially implemented from January 1, 2026, serving as the reference standard for SMM's price assessments. During this period, SMM will continue to collect suggestions and feedback from all parties, closely follow changes in the lead industry chain market, and identify and optimize SMM prices to better serve the industry! For any questions regarding prices, please contact lead analyst Wenming Xia at 021-51666839. SMM Information & Technology Co., Ltd. Lead and Zinc Research Division December 25, 2025
PriceDec 25, 2025 09:41