SMM, November 3:
Secondary refined lead quotes diverged today, with online prices suggested to fall by 150-225 yuan/mt. Suppliers showed poor willingness to sell, and tax-inclusive Ex-works quotes were scarce; downstream buyers indicated purchase interest at a low of 15,800 yuan/mt. Affected by the sharp pullback in lead prices, market sentiment turned cautious, with holders of low-discount cargoes holding back from selling and showing weak willingness to sell, while downstream buyers purchased cautiously. Overall transactions were sluggish as the market awaited clearer direction. Today, the SMM secondary refined lead average price was 15,850 yuan/mt, at a discount of 25 yuan/mt to the SMM #1 lead average price. Supplier selling sentiment stood at 0.31, while secondary refined lead purchase sentiment today was 3.12 (historical data can be accessed via the database).
