Secondary Lead: Pre-Holiday Stockpiling Winds Down, Secondary Refined Lead Transactions Turn Quiet [SMM Lead Daily Review]

Published: Sep 24, 2026 13:22 (GMT+8)

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SMM, September 24:

Participants in the secondary refined lead market suggested lowering the online price by 100 yuan/mt. Downstream pre-holiday stockpiling has largely concluded, and demand is weakening. Some smelters have limited spot orders and insist on selling at parity with the SMM #1 lead average price, while most smelters are not quoting spot orders. Today, the SMM secondary refined lead average price was 16,100 yuan/mt, a discount of 75 yuan/mt to the SMM #1 lead average price. Supplier selling sentiment was 1.7, and secondary refined lead purchasing sentiment today was 1.83 (historical data can be accessed via the database).

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