沪伦比值修复，铅产品进口量大幅增加——2025年11月中国铅贸易浅谈

Group 1: Lead Concentrate Import - In November 2025, China's lead concentrate imports reached 110,000 tons, a year-on-year increase of 15.8% and a month-on-month increase of 11.7% [1] - From January to November 2025, cumulative imports of lead concentrate totaled 1.27 million tons, reflecting a year-on-year growth of 12.1%, with the growth rate expanding by 0.4 percentage points compared to the previous period [1] Group 2: Silver Concentrate Import - In November 2025, China imported 18,100 tons of silver concentrate, marking a year-on-year increase of 26.5% and a month-on-month increase of 21.1% [2] - Cumulative imports of silver concentrate from January to November 2025 reached 167,700 tons, with a year-on-year growth of 8.4%, an increase of 1.8 percentage points compared to the previous period [2] Group 3: Refined Lead Import and Export - In November 2025, the import volume of refined lead was 8,656 tons, a significant year-on-year increase of 961.5% and a month-on-month increase of 127.0% [3] - The export volume of refined lead in November 2025 was 1,148 tons, a year-on-year decrease of 45.6% and a month-on-month decrease of 45.3% [3] Group 4: Lead Alloy Import - In November 2025, net imports of lead alloy were 16,000 tons, an increase of 7,800 tons year-on-year [4] - Cumulative net imports of lead alloy from January to November 2025 reached 114,000 tons, reflecting a year-on-year increase of 18,000 tons [4] Group 5: Lead-Acid Battery Export - In November 2025, China exported 15.8 million lead-acid batteries, a year-on-year decrease of 21.3% and a month-on-month decrease of 5.1% [5] - Cumulative exports of lead-acid batteries from January to November 2025 totaled 201.96 million units, a year-on-year decline of 10.3% [5] Group 6: Lead-Acid Battery Parts Export - In November 2025, net exports of lead-acid battery parts were 8,237.2 tons, a year-on-year increase of 27.8% [6] - Cumulative net exports of lead-acid battery parts from January to November 2025 reached 85,000 tons, reflecting a year-on-year increase of 88.2% [6]