Secondary Lead: Widening Divergence in Purchase and Sales Expectations, Secondary Refined Lead Market Transactions Weak [SMM Lead Daily Review]

Published: Jul 30, 2026 13:37

Save

SMM, July 30:

Views from upstream and downstream players in the secondary refined lead market are markedly split. Upstream suppliers hold prices firm, with some cargoes intended for delivery at a premium of 75 yuan/mt over the SMM #1 lead average price; downstream buyers generally view prices as high, and primary lead offers more cost-effectiveness, with some enterprises calling for a 50 yuan/mt reduction in the online price. Spot order quotations are centered between parity and a discount of 50 yuan/mt ex-factory, sellers and buyers found it hard to agree, actual shipments were limited, and overall deal performance was weak. The SMM secondary refined lead average price was reported at 15,475 yuan/mt today, at a discount of 50 yuan/mt to the SMM #1 lead average price. Supplier shipment sentiment stood at 0.89, and purchasing sentiment for secondary refined lead was 0.98 today (historical data can be accessed by logging into the database).

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.

Images in this article contain AI-translated captions for reference only.

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

15 mins ago

Rebound Momentum Insufficient, SHFE Lead Under Pressure, Closes Lower [Lead Brief Review]

SMM July 30: The most-traded SHFE lead 2609 contract opened at 15,850 yuan/mt today. In early trading, SHFE lead trended stronger, once attempting to hold above the 15,800 yuan/mt level but failed...

15 mins ago

1 hour ago

Supply and Demand Both Wait and See, Scrap Battery Market Maintains Fluctuating Trend

1 hour ago

4 hours ago

Maronan Advances Queensland Silver-Lead Project Toward PFS as Infill Drilling Progresses

Maronan Metals said its Northwest Queensland silver-lead-copper-gold project is progressing from a Scoping Study toward a pre-feasibility study. The Scoping Study covered less than 25% of the global resource in the Starter Zone and outlined a 1.2 Mtpa operation with a 10-year mine life and approximately A$260 million of capital expenditure. It generated an NPV8 of A$377 million at a silver price of A$36/oz. The company estimates project NPV at about A$750 million at current spot silver prices, but this remains a company estimate subject to further resource definition, engineering and permitting. A 40,000 m infill drilling program is nearly 25% complete, with about 10,000 m drilled. Maronan expects a resource update before the end of the financial year, followed by a PFS and its first ore reserve around the middle of next year. Metallurgical test work has returned lead and silver recoveries above 90%, with lead concentrate grading above 70% lead and containing at least 1,500 g/t silver. An exploration decline has been permitted, while the planned mining-lease application is targeted for year-end; the decline development itself is not yet fully funded.

4 hours ago