Secondary lead: The secondary refined lead market holds steady with a wait-and-see stance, and trading remains sluggish [SMM Lead Daily Review]

Published: Jul 21, 2026 14:04

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SMM reported on July 21:

Today, the secondary refined lead market suggested a downward adjustment of online prices by 0-25 yuan/mt; upstream spot order quotations against the SMM #1 lead average price were -0~-50 yuan/mt ex-works, with a small amount traded at 14,500 yuan/mt excluding tax. Downstream procurement sentiment was low, alloy plants had no restocking plan, the overall wait-and-see sentiment was strong, rigid demand transactions were sparse, market mentality was weak, and large-volume transactions were difficult in the short term. Today, the SMM secondary refined lead average price was reported at 15,700 yuan/mt, at parity with the SMM #1 lead average price. Supplier shipment sentiment was 1.12, and today, the secondary refined lead procurement sentiment was 1.83 (historical data can be viewed by logging into the database).

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