Today, the average SMM #1 lead price increased by 125 yuan/mt to 18,350 yuan/mt. The discount for secondary refined lead expanded, with ex-factory discount of 250-100 yuan/mt against the average SMM #1 lead price; tax-free ex-factory prices were reported at 17,250-17,450 yuan/mt. Some secondary lead smelters reported moderate spot sales.
Downstream battery manufacturers showed active inquiry enthusiasm but were relatively cautious in purchasing; a new round of long-term orders has started, with enterprises mainly fulfilling long-term orders.
![상하이 선물거래소 연, 상단 그림자 길게 남기며 0.03% 하락, 고점 횡보 국면 유지 [연 선물 단평]](https://imgqn.smm.cn/usercenter/xVgcv20251217171721.jpg)
