Secondary Lead: Smelters show strong willingness to raise offers, and downstream expects spot order discounts to continue widening [SMM Lead Daily Review]

Published: Aug 11, 2026 13:38

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SMM, August 11:

Today, secondary refined lead suppliers showed a strong willingness to raise offer prices, with multiple smelters suggesting the online price be raised by 100 yuan/mt; some cargoes saw discounts to the SMM #1 lead average price widen to 100-75 yuan/mt, while certain export cargoes still held prices firm, offering a premium of 75 yuan/mt delivered to downstream. Although smelters’ sentiment to hold prices firm was strong, downstream purchases were relatively cautious, with certain top-tier players hoping to secure spot orders at a discount of 175 yuan/mt ex-factory, resulting in a clear market divergence. Today, the SMM secondary refined lead average price was reported at 15,625 yuan/mt, a discount of 50 yuan/mt to the SMM #1 lead average price. The supplier selling sentiment stood at 1.17, and the secondary refined lead purchasing sentiment was 1.01 today (historical data can be accessed in the database).

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