Monthly Lead Market Report Dec 2025

Contents
1 Market Highlights 2
2 Economy and Policy 2
3 Market Movements 2
3.1 Market Movements in China 2
3.1.Asian Metal Copyright60% YoY in Nov 2025 6 .Asian Metal Copyright1 Lead ingot 99.994%min 2
3.1.2 Lead concentrate 60%min 3
3.1.3 Imported lead concentrate 50%min 3
3.1.Asian Metal Copyright1.Asian Metal Copyright4 Secondary lead ingot 99.994%min 3
3.1.5 Secondary lead ingot 98%min 3
3.1.6 Recycled battery 4
4 Company News 4
5 Producers Statistics 4
5.1 Primary lead ingot 4
5.1.Asian Metal Copyright3 Imported lead concentrate 50%min 3 3.Asian Metal Copyright1 China's primary lead producers' operating rate down by 5.97% YoY in Dec 2025 4
5.1.Asian Metal Copyright994%min 2 3.Asian Metal Copyright2 China's primary lead producers' output down by 5.83% YoY in Dec 2025 5
5.1.Asian Metal Copyright1.Asian Metal Copyright3 China's primary lead producers' stocks down by 64.67% MoM in Dec 2025 5
5.2 Secondary lead ingot 5
5.2.1 China's secondary lead producers' operating rate down by 6% YoY in Dec 2025 5
5.2.Asian Metal Copyright2 Brazil's lead concentrate export volume increased 46.Asian Metal Copyright2 China's secondary lead producers' output down by 20.11% YoY in Dec 2025 5
6 Customs Statistics 5
6.1 China's lead concentrate import volume rose 15.78% YoY in Nov 2025 5
6.2 Brazil's lead concentrate export volume increased 46.89% MoM in Oct 2025 6
6.3 China's refined lead export volume decreased 45.60% YoY in Nov 2025 6


.Asian Metal Copyright1 China's primary lead producers' operating rate down by 5Asian Metal Copyright