SMM June 12 news: This week, SMM #1 lead ingot (tax-inclusive) fluctuated downward, briefly rebounded mid-week, and then declined again, leading to a weekly loss of 200 yuan/mt. The tax-inclusive scrap battery purchase price was cut by 150 yuan/mt early in the week and then held steady, showing relatively firm performance, mainly due to smelters’ raw material procurement difficulties and declining raw material inventory. Looking ahead to next week, the pace of production resumptions at smelters varies; some enterprises have delayed resumption, while others plan to reduce or halt production due to raw material issues. Currently, purchase prices at recycling storefronts are falling in line with procurement prices, and storefronts are holding back from selling; coupled with concentrated sell-offs of cargo during the previous lead price decline, circulating raw material supply is tight. The scrap battery purchase price is expected to remain stable in the short term.

Overall, the secondary lead market will remain in a pattern of "weak cost support and strong consumption suppression" in the short term. Smelter production resumptions in June will find it difficult to fully offset previous cuts, with the supply side showing marginal improvement but remaining tight. Lead prices will continue to fluctuate weakly.

SMM June 5 News: Lead spot prices fluctuated at highs from the beginning of the week to mid-week, then pulled back sharply near the weekend. Compared with the weakening lead prices, smelters' scrap battery purchase prices showed resistance to declines, with mainstream reductions concentrated in the range of 50-100 yuan/mt. This week, recyclers saw no improvement in collected supplies, and arrivals at smelters remained low. Combined with rising expectations that multiple secondary lead smelters would resume production in June, raw material procurement demand increased, supporting smelters in holding prices firm for purchases. Driven by the decline in spot prices, some recyclers sold accordingly, and arrivals at smelters recovered slightly, but circulating supplies in the market remained tight. Looking ahead to next week, smelters' restocking demand persists, and scrap battery purchase prices are expected to remain relatively stable.

In May 2026, China's secondary lead production declined significantly, down 18.96% MoM and 9.26% YoY, while secondary refined lead pulled back 19.16% MoM and 15.03% YoY. According to SMM data, spot lead prices were in the doldrums in May, with the SMM #1 lead ingot monthly average price at approximately 16,475 yuan/mt.……

SMM May 29 News: Spot lead prices fluctuated at highs before pulling back this week. Scrap battery purchase prices first rose then stabilized, with only a few smelters slightly lowering their quotes while most enterprises held prices and adopted a wait-and-see approach. Currently in the consumption off-season, scrap battery retirement volumes remained low, smelter raw material inventories declined WoW, and purchase prices overall stayed firm. Looking ahead to next week, smelters in east China, north China, and south China are showing stronger willingness to resume production, and stockpiling for production resumptions is expected to boost scrap battery recycling demand, tightening regional supply. Scrap battery purchase prices are expected to receive strong support in the short term, and the overall market is expected to hold up well next week.

SMM May 29 update: Lead prices fluctuated this week, and secondary refined lead premiums changed repeatedly along with market movements. At the beginning of the week, smelter losses eased and shipments increased, with quotations at discounts of 50-0 yuan/mt. Mid-week, lead prices fluctuated, and smelter mainstream quotations were at slight discounts, with only localized minor premiums, while downstream trading activity weakened. Approaching the weekend, spot lead prices fell, and some smelters held back from selling and held prices firm. Mainstream quotation range was from a discount of 50 to a premium of 75 yuan/mt. Downstream wait-and-see sentiment was strong, and overall transactions throughout the week were lackluster. This week, SMM #1 lead ingot spot prices fluctuated at highs before pulling back. However, affected by a WoW decline in raw material inventory, smelters generally held prices firm when purchasing, raw material costs stayed high, and industry losses further widened. As of May 28, large enterprises posted losses of 334 yuan/mt, and small and medium-sized enterprises posted losses of 542 yuan/mt. Looking ahead to next week, production resumption expectations at secondary lead smelters are heating up, early raw material stockpiling demand is expected to increase, procurement prices are expected to hold up well, profits are expected to remain under pressure, and industry losses are unlikely to improve. This week, finished product inventories at some secondary lead enterprises saw a slight inventory buildup. Combined with incremental output from some smelters resuming production next week, market supply is set to increase, and spot premium expectations are expected to narrow somewhat.