Secondary Lead: Sellers and Buyers Struggle to Agree on Prices, Spot Order Market Sees Sluggish Trading [SMM Lead Daily Review]

Published: Jul 9, 2026 14:13

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SMM, July 9:

Upstream secondary refined lead ex-works quotations were at discounts of 30 to premiums of 25 yuan/mt compared with SMM #1 lead. Downstream buyers turned bearish with the market and were unwilling to take high-priced cargoes. Actual spot order transactions were at a discount of 20-30 yuan/mt, with tax-exclusive deals at 14,750 yuan/mt. Sellers and buyers could not agree on prices, and market trading was sluggish. Today, the SMM secondary refined lead average price was 15,925 yuan/mt, at parity with the SMM #1 lead average price. Supplier shipment sentiment was 0.99, and today’s secondary refined lead purchase sentiment was 0.4 (historical data can be accessed in the database).

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