A cladding material for a lead capable of inhibiting foreign matter from remaining on a surface can be obtained. The cladding material (1) is a cladding material for a lead welded to a terminal (21, 22) of a battery (2) and comprises a first Ni layer (11) arranged on a side welded to the terminal of said battery, a second Ni layer (12) arranged on a side opposite to said welded side and an Fe layer (10) arranged to be held between said first Ni layer and said second Ni layer. The thickness of the first Ni layer is at least 2.1 % and not more than 8.2 % of the thickness of said cladding material consisting of the first Ni layer, the second Ni layer and the Fe layer.