Secondary Lead: Few Smelter Quotes, Downstream Only Inquires Without Purchasing [SMM Lead Daily Review]

SMM, October 9:

Market entities suggested lowering the secondary refined lead online price by 150-200 yuan/mt, with tax-inclusive ex-works reference prices at 15,925-16,000 yuan/mt. Some smelters halted production with no cargo available and did not quote. A small volume of cargo was offered ex-works at parity with the SMM #1 lead average price. Downstream only made inquiries without purchasing, and overall trading was sluggish. Today, the SMM secondary refined lead average price was 15,900 yuan/mt, a discount of 25 yuan/mt to the SMM #1 lead average price. Supplier selling sentiment was 0.62, and secondary refined lead purchasing sentiment today was 1.84 (historical data can be queried in the database).