Secondary Lead: Smelters incurring losses hold intentions to hold prices firm; downstream procurement enthusiasm is insufficient, leading to thin trading. [SMM Lead Daily Review]

SMM August 6 news:

The secondary refined lead market showed clear sentiment divergence. Upstream smelters, long mired in losses, had a strong willingness to hold prices firm, with some shipments quoted at a premium to sell. However, downstream enterprises' purchasing willingness was sluggish, and procurement was relatively cautious. Market quotations varied significantly, with some spot orders against the SMM #1 lead average price at parity or at a slight discount ex-factory. Actual transaction volume was limited, mostly consisting of small immediate-demand orders, and the market remained in a deadlock in the short term. Today, the SMM secondary refined lead average price was reported at 15,500 yuan/mt, at a discount of 25 yuan/mt to the SMM #1 lead average price. The supplier shipment sentiment was 1.28, and today's secondary refined lead purchase sentiment was 1.32 (historical data can be queried by logging into the database).