China's secondary refined lead production declined in August due to tight scrap battery supply and smelter losses, with finished lead inventories dropping sharply. September production is expected to rebound significantly as smelters resume operations and downstream battery buyers stockpile ahead of holidays, supporting firmer lead ingot prices.
Concentrated maintenance at primary lead smelters tightened spot supply, while the lead-acid battery market entering its seasonal peak lifted demand expectations. LME lead inventories fell and the Cash-3M contango narrowed, supporting firmer prices. An open Chinese lead ingot import window may ease supply pressure going forward, introducing downside risk after any near-term rally.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Lead Ingot | China | FOB | USD 2,321.40/MT | July 2026 |
| Lead Ingot | India | CIF | USD 2,428.21/MT | July 2026 |
| Lead Ingot | USA | CIF | USD 2,508.89/MT | July 2026 |
| Lead Ingot | Brazil | CIF | USD 2,455.03/MT | July 2026 |
| Lead Ingot | Canada | CIF | USD 2,518.40/MT | July 2026 |
| Lead Ingot | China | FOB | USD 2,398.80/MT | June 2026 |
| Lead Ingot | India | CIF | USD 2,486.35/MT | June 2026 |
| Lead Ingot | USA | CIF | USD 2,553.75/MT | June 2026 |
| Lead Ingot | Brazil | CIF | USD 2,570.41/MT | June 2026 |
| Lead Ingot | Canada | CIF | USD 2,558.80/MT | June 2026 |
Stay updated with the latest Lead Ingot prices, historical data, and tailored regional analysis
Asia
Lead Ingot prices in China were ~USD 2,411.65/MT and ~USD 2,399.00/MT, respectively, in the first and last month of the second quarter of 2026. Meanwhile, in India, the prices of Lead Ingot were ~USD 2,461.65/MT in April and ~USD 2,486.00/MT in June showing a marginal increase. Asian markets remained influenced by supply adjustments and weak battery demand. China increased reliance on imported lead units, with refined lead imports rising significantly during January-April as domestic production weakened. Maintenance-related smelter disruptions initially restricted supply, but production recovery later increased availability. Seasonal weakness in lead-acid battery demand limited stronger price movement, with buyers focusing on immediate requirements.
Europe
European lead markets received support from supply-side disruptions, particularly reduced mine availability. Operational issues at major mining assets affected concentrate availability and tightened raw-material conditions. However, refined lead demand growth remained moderate, limiting a strong upward price movement. Automotive and industrial battery applications provided some stability, but weaker manufacturing activity across parts of Europe restricted consumption growth.
North America
Lead Ingot prices in the United States were ~USD 2,498.65/MT in April and ~USD 2,554.00/MT in June, showing a ~2.2% increase. The market remained comparatively firmer due to lower domestic mine output and stronger refined lead consumption. Recycling and imported material played an important role in balancing supply. Mexico experienced weaker refined lead production and consumption, while Canada maintained a relatively stable mining environment. Demand from automotive batteries and industrial applications supported regional consumption.
Analyst Insight
According to Procurement Resource, lead ingot prices are expected to remain regionally differentiated, with battery demand, recycled supply availability and refined metal balances shaping market movement.
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Lead ingot prices showed a consistent downward trend in Q1 2026 as stable refined lead availability and cautious battery-sector procurement weighed on market sentiment. The decline was broad-based across Asia and the Americas, indicating that weak downstream buying had a stronger impact than geopolitical freight concerns. In China, prices fell from USD 2,480.5432/MT in January to USD 2,392.24/MT in March, showing a 3.56% decrease. India recorded the steepest fall, with prices dropping from USD 2,589.2156/MT to USD 2,447.24/MT, down 5.48%, as battery manufacturers maintained limited restocking. In the USA, prices declined from USD 2,565.9260/MT to USD 2,479.24/MT, marking a 3.38% decrease. Brazil eased by 2.22%, from USD 2,546.7329/MT to USD 2,490.24/MT, while Canada declined by 3.26%, from USD 2,565.9260/MT to USD 2,482.24/MT. The Iran war and Strait of Hormuz disruption raised freight and energy concerns, but sufficient secondary lead supply and slow procurement kept prices under pressure.
Analyst Insight
According to Procurement Resource, near-term lead ingot prices may remain soft if battery demand stays cautious and recycled lead availability remains steady.
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In general, ingot refers to a piece of relatively pure substance, often a metal, that is cast into a shape ideal for further processing. Lead Ingot is a silvery white lead product produced from a secondary procedure of shaping, such as cold/hot working, cutting, or milling. Lead Ingots are available in various sizes ranging from 10 LB ice cube tray ingots to 70 LB large ingots, with dross-free and smooth top surface. They are useful in general applications as ingots are generally the least costly form of metallic products.
Pb
For radiation shielding, Ballast, Counterweights, Building construction material, Ammunition, Lead acid battery, Lead products (sheet, pipes, wire, etc.), Lead oxides and chemicals, Pigments, Cable sheathing, Aerospace, Ship building, Re-melt for industrial applications
Lead pigs, Bullion or bar lead
Mars Metal Company, American Elements, Pilot Industries Limited, Gravita India Ltd, Jayachandran Alloys (P) Ltd
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Lead Ingots are produced from lead scraps/ raw lead bullions/ remelted or secondary lead ingots through pyro metallurgical process. In this process, thermal treatment of minerals and metallurgical ores and concentrates is carried out to bring about physical and chemical modifications in the materials to recover Lead Ingot. After thermal treatment, the obtained molten lead is mixed with alloys, including antimony, tin, etc. and finally casted into ingots.
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