January 5, 2026: Global supply of refined lead metal exceeded demand by 20kt during the first 10 months of 2025, according to latest data.
The Lisbon-based International Lead and Zinc Study Group (ILZSG) gave the update on December 17 based on provisional data reported from its member countries. Total inventories fell by 22kt during the year.
The data is line with forecasts made by the group last October — when it reported that demand for refined lead metal would continue building on its near 2% increase in 2025, to just over 13 million tonnes.
Refined lead metal usage in 2025 grew by 1.5%, mainly as a result of rises in Brazil, Taiwan, the US and Vietnam. Demand in Europe also increased, which the ILZSG said was influenced by increases in France, Germany, Poland and the UK — but partially offset by declines in Italy and Spain.
Usage in India and Mexico was lower than during the same period of 2024.
Increases in lead mine production in China, India, Peru, Turkey and Europe were largely offset by reductions in Australia, Kazakhstan and the US, which the ILZSG said led to a negligible overall increase of 0.1%.
A 1.7% rise in global lead metal production was mainly a result of higher output in Canada, China, India, South Korea, Mexico, Sweden and Brazil, where new secondary capacity was recently commissioned.
However, these increases were partially offset by reductions in Japan, Kazakhstan and the UK.
Meanwhile, Chinese imports of lead contained in lead concentrates increased by 8.5% to 981kt. Net imports of refined lead metal totalled 24kt, a decline of 95kt compared to the first 10 months of 2024.
The battery sector will again underpin usage of lead through 2026, according to a flurry of business activity in the industry, as reported by Batteries International in recent months.
Last September, Exide Industries said it intended to boost the percentage of secondary lead purchased internally and externally to 85% over the next five years.
In October, GS Yuasa president Takashi Abe said lead batteries would continue to be the mainstay of the Japanese headquartered corporation’s global business beyond the next decade.
Meanwhile, Belgium-based Campine pledged to expand use of battery recycling and speciality lead manufacturing operations newly acquired from Ecobat in France.
Campine circular metals director David Wijmans said the Ecobat facilities had free smelting capacity that the firm planned to use immediately.
