Secondary Lead: Lead Prices Fall for Days, Downstream Restocks Small Volumes at Low Prices [SMM Lead Daily Review]

SMM July 14 News:

Market participants widely recommended lowering the online price for secondary refined lead by 100-125 yuan/mt. Downstream buyers showed purchase interest near 15,700 yuan/mt. Upstream suppliers resisted the price drop, holding back from selling and temporarily halting shipments. Spot orders were mostly transacted at discounts of 20-30 yuan/mt ex-works, while downstream purchasing sentiment remained mediocre. Many in the market merely quoted prices and stayed on the sidelines, leading to sluggish overall trading. Today, the SMM secondary refined lead average price was reported at 15,750 yuan/mt, on par with SMM #1 lead average price. Supplier selling sentiment stood at 0.45, while downstream purchasing sentiment for secondary refined lead was 2.59 (historical data can be accessed through the database).