About Lead
Lead is mainly used in lead-acid batteries for cars, backup power and industrial equipment. A large share of supply comes from recycling old batteries, which makes the market more stable than many other metals.
What moves the lead price
- Replacement and new-vehicle battery demand.
- Secondary (recycled) supply and environmental rules on smelters.
- Mine output, often produced alongside zinc and silver.
- Chinese demand and exchange stocks.
A recycling-driven market
Lead is one of the most recycled materials in the world: most used car and industrial batteries are collected and smelted again. Secondary (recycled) production supplies more than half of refined lead, so the availability of scrap batteries and the health of recycling smelters matter as much as mine supply. Chinese environmental inspections of smelters have periodically disrupted supply.
Demand and the vehicle fleet
Lead-acid batteries start most combustion-engine vehicles and are also used as auxiliary batteries in electric cars, in telecom and data-centre backup power, and in e-bikes. Replacement demand peaks in winter, when cold weather kills old batteries. The long-term shift towards lithium-ion batteries in some applications is a gradual headwind.
Contract specifications
| Global benchmark | LME Lead, 25 tonnes, US dollars per tonne |
|---|---|
| Main use | Lead-acid batteries (around 80% of demand) |
| Supply | Mine output plus a large share from recycled batteries |
| Major producers | China, Australia, the United States, Peru, Mexico |
Specifications as published by the exchange; they can change, so confirm on the exchange website before trading.
Trading hours
LME metals trade electronically on LMEselect roughly 01:00 to 19:00 London time, with open-outcry Ring sessions around midday London time. The 3-month contract is the usual benchmark.
Contract basics
LME standard lead trades in 25-tonne lots priced in US dollars per tonne.
Quote unit
USD per tonne. Hours and specifications can change; always confirm on the exchange's website, especially around holidays.
Lead FAQ
What moves the price of lead?
Replacement and new-vehicle battery demand. Secondary (recycled) supply and environmental rules on smelters. Mine output, often produced alongside zinc and silver. Chinese demand and exchange stocks.
When does lead trade?
LME metals trade electronically on LMEselect roughly 01:00 to 19:00 London time, with open-outcry Ring sessions around midday London time. The 3-month contract is the usual benchmark.
What is the standard lead contract?
LME standard lead trades in 25-tonne lots priced in US dollars per tonne.
What is lead used for?
Mainly lead-acid batteries for vehicles and backup power, plus smaller amounts for cable sheathing, radiation shielding and ammunition.
Is lead demand seasonal?
Battery replacement rises in winter in the northern hemisphere, which tends to support demand in the cold months.