SMM July 21 News:
Today, secondary lead quotes remained stable, and scrap battery recycling prices maintained range-bound movements. Smelters' purchase quotes showed no raise, upstream recyclers were cautious in purchasing materials and unwilling to stockpile at high prices. The circulation of scrap batteries in the market was relatively scarce, merchants felt that current price levels were low, held back from selling to wait and see, and their willingness to sell was low. Downstream smelters purchased on rigid demand, and their willingness to restock in large quantities was insufficient. Supply and demand in the market were stagnant from both sides, trading was mediocre in the market, and short-term market conditions were unlikely to see significant fluctuations.
![In the near term, SHFE lead will move sideways, while China focuses on secondary lead production resumptions and changes in downstream operating rates. [Lead Futures Brief Comment]](https://imgqn.smm.cn/usercenter/qnyHQ20251217171721.jpeg)
