Secondary Lead: Strong Downstream Purchasing Intent, Prices Expected to Pull Back Further [SMM Lead Daily Review]

SMM, October 15:

Mainstream suggestions from secondary refined lead market participants: Today's online prices were lowered by 50-100 yuan/mt to varying degrees, with a minority proposing to hold prices steady for spot order sales, and some entities hoping for a stable basis. Tax-included ex-works cargoes were at a discount of 100-0 yuan/mt against the SMM #1 lead average price, with a few at a small premium delivered to the plant. Downstream purchasing willingness was strong, with expectations for prices to pull back further, and more market participants operated in line with prevailing conditions. Today's SMM secondary refined lead average price was 16,075 yuan/mt, at a discount of 25 yuan/mt against the SMM #1 lead average price. Supplier shipment sentiment was 2.4, and today's secondary refined lead purchase sentiment was 2.88 (historical data can be accessed via the database).