In April 2026, domestic lead prices overall moved sideways, with spot cargo and futures trends remaining relatively stable. According to SMM data, the average spot price of SMM #1 lead ingot in April was 16,525 yuan/mt, with prices operating steadily within the range during the month, rising first then declining. Futures market, SHFE lead contract prices were generally higher than spot prices……

According to the latest data from China's General Administration of Customs (compiled by SMM), the import and export of refined lead and lead alloys in March 2026 were as follows: China's refined lead exports totaled 3,190 mt, down 36.83% MoM and up 12.78% YoY. From January to March, combined exports of refined lead and lead products totaled 12,950 mt, down 23.43% YoY on a cumulative basis.

[SMM Data: Complete Summary of SMM March 2026 Import and Export Data] SMM March 2026 import and export data showed: copper cathode net imports were down YoY; primary aluminum imports reached 255,000 mt, up 14.8% YoY; refined lead imports climbed sharply; zinc ingot imports were up 220% MoM; tin ore imports were up 122% YoY; silver imports were up 93% MoM; steel exports rebounded MoM; PV module export value was up 122.7% MoM; silicon metal exports were up 43% MoM, and magnesium exports hit a multi-year high. Among new energy materials, exports of LiPF6 and artificial graphite surged significantly.

[Latest Data from the General Administration of Customs] According to customs data, in March 2026, China's refined lead exports totaled 3,190 mt, down 36.83% MoM but up 12.78% YoY. Cumulative refined lead and lead product exports from January to March totaled 12,950 mt, down 23.43% YoY.

Import side, cumulative refined lead imports in January-February reached 33,412 mt, surging 732.08% YoY. Of this, February imports alone were 21,072 mt, up 70.77% MoM and 1,169.62% YoY, hitting a new high for the same period in recent years; raw material supply remained ample.