Pattern of Holding Prices Firm and Holding Back from Selling Continues, Secondary Lead Losses Remain Temporarily Hard to Repair [SMM Secondary Refined Lead Weekly Review]

Published: Jul 24, 2026 15:17

Save

SMM, July 24:

This week, secondary refined lead EXW transaction prices were at discounts of 100~50 yuan/mt against the SMM #1 lead average price, and deliveries at parity within industrial parks were transacted. Some suppliers held prices firm and held back from selling, with quotations at premiums of 75~125 yuan/mt against the SMM #1 lead average price, or even halted shipments. Raw material prices declined in tandem, but smelters remained deep in losses. As of July 24, 2026, the theoretical comprehensive profit/loss value stood at -498 yuan/mt for large-scale secondary lead enterprises and -679 yuan/mt for small and medium-sized ones. Looking ahead to next week, expectations for secondary lead production cuts persist, with most cargo owners continuing to hold back from selling and waiting on the sidelines. The remaining supplies are expected to transact at discounts of 50 yuan/mt to parity. Lead price rebound space is limited, and the loss situation for smelters will be hard to reverse in the short term.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

9 mins ago

Vietnam Lead Demand Robust, Spot Premiums Rise Despite High Quotes Hindering Deals

[Vietnam Lead Market Updates] It is understood that lead demand in the Vietnam market has remained robust, and spot premiums for lead ingots have generally been on an upward trend since the beginning of this year. In July, although LME lead prices continued to consolidate on a subdued note, some suppliers further raised their premium quotes. Currently, the highest CIF Vietnam premium quotation for lead ingots (Pb≥99.99%) stands at $210/mt. However, lead-acid battery enterprises generally indicated that such quotes were hard to accept, and no deals have been heard in the market yet. Additionally, according to SMM’s latest quotes, CIF premiums for Vietnamese primary lead (Pb 99.99%-99.995%) are reported at $170-205/mt.

9 mins ago

10 mins ago

Rising Demand for E-Bike Batteries Boosts Lead Consumption in Vietnam

[Vietnam Lead Market Update] Since the beginning of this year, new lead-acid battery capacity in Vietnam has been successively commissioned. Coupled with the ongoing policy promoting the switch from motorcycles to e-bikes and rising oil prices, local demand for lead-acid batteries used in e-bikes and other applications has grown rapidly, and production lines at battery producers are generally running at full capacity. Some producers say their lead consumption has doubled compared to the same period last year, with a few enterprises even reaching three times last year’s level.

10 mins ago

28 mins ago

SHFE lead consolidated on a subdued note intraday, recording a small bald bearish candlestick [Lead Futures Brief]

28 mins ago