Spot Market Supply and Demand Remain Weak; Few Refined Lead Quotations and Sluggish Transactions [SMM Secondary Refined Lead Weekly Review]

SMM January 24 News:

This week, the upstream and downstream of the lead industry chain have mostly entered the holiday mode. Quotations for secondary refined lead were scarce, and downstream battery producers have largely ceased procurement, resulting in sluggish transactions for secondary lead. It is reported that during the week, low-bismuth refined lead in east China was quoted at premiums of 0-50 yuan/mt against the SMM 1# lead average price on an ex-factory basis, while in south China, there were ex-factory quotations at a discount of 150 yuan/mt. The spot market saw weak supply and demand, with ex-factory quotations for tax-free refined lead suggested at 15,650-15,800 yuan/mt. Battery scrap prices fluctuated relatively little during the week, and most secondary lead smelters indicated that they would not adjust procurement prices before the Chinese New Year. Lead prices fluctuated upward. As of January 24, 2025, the theoretical comprehensive profit and loss value for large-scale secondary lead enterprises was 191 yuan/mt, while for small and medium-sized secondary lead enterprises, it was -4 yuan/mt.

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