Lead prices averaged USD 1,998 per metric ton in November, up 1.6% from October. On 28 November, the commodity traded at USD 1,939 per metric ton, down 2.6% from 31 October.
Average lead prices rose in November compared to the prior month. Traders’ optimism was likely fueled by expectations of a final 2025 U.S. interest rate cut in December. That said, cooling manufacturing sectors in China and the U.S., coupled with downbeat global EV demand, likely capped price gains at the end of the month; lead is a key component for car batteries.
This chart displays Lead (US$/mt) from 2023 to 2025.
Lead LME (prices in US$/mt, aop)
| Q1 2023 | Q2 2023 | Q3 2023 | Q4 2023 | Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Lead LME | - | - | - | 2,117 | 2,074 | 2,166 | 2,038 | 2,004 | 1,969 | 1,945 | 1,966 | - |