--- title: "China Nonferrous Metals Industry Association: In May, China's lead and zinc industry monthly prosperity index was 35.4, an increase of 4.4 points month-on-month" type: "News" locale: "en" url: "https://longbridge.com/en/news/244012924.md" description: "In May, the monthly prosperity index of China's lead and zinc industry was 35.4, an increase of 4.4 points from April, indicating a trend of stabilization and recovery. Most sub-indicators showed improvement, and the market supply and demand relationship gradually improved. The leading index was 76.7, reaching a new high since 2024, suggesting that the industry's prosperity may improve in the short term. Overall, the lead and zinc industry has a foundation for stable development" datetime: "2025-06-11T07:21:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/244012924.md) - [en](https://longbridge.com/en/news/244012924.md) - [zh-HK](https://longbridge.com/zh-HK/news/244012924.md) generator: "portal-rs" --- # China Nonferrous Metals Industry Association: In May, China's lead and zinc industry monthly prosperity index was 35.4, an increase of 4.4 points month-on-month According to the report on the monthly prosperity index of China's lead and zinc industry released by the China Nonferrous Metals Industry Association in May, the monitoring model results show that **in May, the monthly prosperity index of China's lead and zinc industry was 35.4, an increase of 4.4 points from April, operating within the "normal" range, indicating a stabilization and recovery trend, with most sub-indicators improving and the market supply-demand relationship gradually improving. The leading index was 76.7, an increase of 3.3 points from April, reaching a new high since 2024.** The leading index reflects the possible trend of industry prosperity in the near future, and the rise in the leading composite index indicates that the lead and zinc industry has a stable development foundation and is overall at a relatively stable level. **China's lead and zinc industry prosperity index over the past 13 months** **Prosperity index rebounds to the middle of the "normal" range** In May, the monthly prosperity index of China's lead and zinc industry was 35.4, an increase of 4.4 points from April, returning to the middle of the "normal" range, showing a stabilization and recovery trend, with most sub-indicators improving and the market supply-demand relationship gradually improving. The operational trend of the monthly prosperity index of China's lead and zinc industry is shown in Figure 1. Figure 1 Trend of China's lead and zinc industry monthly prosperity index From the specific indicators of China's lead and zinc industry monthly prosperity (Figure 2), in May, all 9 indicators constituting the prosperity index operated within the "normal" range. Among them, the lead and zinc ore import index and fixed asset investment index showed positive performance, reflecting an increase in the activity of the upstream and downstream of the lead and zinc industry chain. Figure 2 Prosperity signal light chart of China's lead and zinc industry **Leading index rises significantly, indicating short-term improvement** In May, the leading index of China's lead and zinc industry was 76.7, an increase of 3.3 points from April, reaching a new high since 2024. The leading index reflects the possible trend of industry prosperity in the near future, and the rise in the leading composite index indicates that the lead and zinc industry has a stable development foundation and is overall at a relatively stable level. **Analysis of sub-indicators** First, the lead and zinc market prices have slightly retreated. In May, the LME lead and zinc price index decreased by 8.8 points compared to April. Affected by the disturbance of speculative funds in the international market and the slow recovery of international consumption, lead and zinc prices are under short-term pressure, but terminal replenishment demand is gradually starting, providing strong bottom support Second, M2 (money supply) is steadily increasing. In May, the money supply index was 55.2, an increase of 2.7 points from April, maintaining a stable growth trend without significant fluctuations, indicating a stable support from the monetary policy environment for the development of the lead-zinc industry. Third, the production of lead-acid batteries has significantly rebounded. In May, the production index of lead-acid batteries rose by 23.6 points compared to April. With the arrival of the traditional consumption peak season, demand in areas such as electric vehicles and backup power sources has significantly increased. Fourth, the production of galvanized sheets remains stable. In May, the production index of galvanized sheets was basically flat compared to April, indicating stable demand from downstream related industries. The acceleration of infrastructure projects has driven an increase in zinc usage in steel structures and pipes, offsetting some of the impact of the sluggish real estate industry, maintaining a balanced supply-demand pattern in the galvanized sheet market. Fifth, the import index of lead-zinc ores continues to rise. In May, the lead-zinc ore import index was 139.1, rising for three consecutive months, with a year-on-year increase of 28.6 points. Domestic smelters have increased their procurement of overseas lead-zinc concentrates to cope with the tight raw material situation, significantly increasing imports from major producing countries such as Australia and Peru, ensuring the continuity of refined lead-zinc production. Sixth, fixed asset investment has slightly warmed up. In May, the fixed asset investment index rose by 12.3 points compared to April, ending a two-month decline trend. Enterprises have increased their investment in environmental governance and intelligent transformation, and some recycled lead-zinc projects have started construction, gradually restoring industry confidence. Seventh, the production index has slightly declined, but remains overall stable. In May, the production index fell by 18.1 points compared to April, as some lead-zinc mines entered seasonal maintenance, leading to a slight decrease in concentrate production. However, the smelting end remains stable, and refined lead-zinc production still shows year-on-year growth, meeting domestic consumption demand. Eighth, both industry revenue and profit indices have increased. In May, the main business revenue index rose by 16.7 points compared to April, indicating a significant improvement in the overall revenue situation of the lead-zinc industry; the total profit index rose by 1.4 points compared to April, with cost control and product structure optimization showing results, gradually reducing the extent of enterprise losses. With the continued implementation of stable growth policies in the national economy, it is expected that in the second quarter of 2025, the lead-zinc industry prosperity index will continue to operate within the "normal" range, and the industry is expected to achieve a moderate recovery. However, it is necessary to closely monitor the impact of international market volatility risks and the pace of consumption recovery on the industry, timely grasp the development opportunities of the recycled lead-zinc industry under the "dual carbon" goals, and strengthen the construction of the waste lead-acid battery recycling system to enhance resource recycling levels ### Related Stocks - [000060.CN](https://longbridge.com/en/quote/000060.CN.md) - [20030.HK](https://longbridge.com/en/quote/20030.HK.md) ## Related News & Research - [PXT: Production guidance nearly doubles for H2 2026, driven by acquisitions and exploration success](https://longbridge.com/en/news/296393798.md) - [Space station startup Vast cuts 4% of employees](https://longbridge.com/en/news/296591625.md) - [Orca Energy Group Inc. declares $0.50 dividend](https://longbridge.com/en/news/296359493.md) - [EXPLAINER-Why a super El Niño leaves tropical commodities acutely exposed](https://longbridge.com/en/news/296197492.md) - [Croatia orders detention of Ukrainian man wanted in Germany for Nord Stream blasts in 2022](https://longbridge.com/en/news/296522753.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**