Secondary Lead: Market Transactions Under Pressure, Tug-of-War Between Upstream and Downstream Intensifies [SMM Lead Daily Review]

Published: Oct 14, 2026 13:53 (GMT+8)

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SMM, October 14:

Price quotes in the refined lead market diverged significantly today, with suggested online price increases ranging from 75 to 150 yuan/mt. Some suppliers held prices firm, offering at a premium of 0-150 yuan/mt against the SMM #1 lead average price, while deals more inclined to close at a discount of 100 yuan/mt against the SMM #1 lead average price. Spurred by the price gains, downstream fear of high prices intensified, with some end-users saying prices had risen too much and postponing purchases today. Market transactions came under pressure, and the tug-of-war between upstream and downstream intensified. Today, the SMM secondary refined lead average price was 16,200 yuan/mt, a discount of 50 yuan/mt against the SMM #1 lead average price. Supplier selling sentiment stood at 2.88, while secondary refined lead purchasing sentiment today was 1.48 (historical data can be queried in the database).

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