Secondary Lead: Lead Prices Plummet, Suppressing Sellers' Willingness to Sell; Downstream Cautious Procurement Leads to Poor Transactions Today [SMM Lead Midday Review]

Today, the average price of SMM #1 lead dropped by 600 yuan/mt compared to yesterday, reaching 17,625 yuan/mt. The mainstream ex-factory prices of secondary refined lead with tax were quoted at a discount of 125-100 yuan/mt to the average price of SMM #1 lead. The mainstream ex-factory prices of refined lead without tax ranged from 16,500 yuan/mt to 16,800 yuan/mt. Downstream battery manufacturers were cautious in procurement, resulting in low market activity for secondary lead transactions today.