Supplies of lead around the world are relatively low. Lead production is a byproduct from the mining of other metals (zinc). Stocks of these metals are high and prices are relatively low so not as much lead is being produced. However, 75% of lead is for USED car batteries, and vehicles are being kept longer right now so lead consumption is at least steady if not a little higher. Chinese imports of base metals where high this last quarter. If they continue lead will not get any cheaper. I've heard rumors of other problems with lead supplies (LME), but am not sure.
Conclusion: Lead probably won't get cheaper and supplies are likely to be tight, but lead prices won't go way up in the short term unless the other metals also go up too (and I don't think this is likely).
