Secondary Lead: Refined Lead Transactions Underperform, Supplier Discounts Widen [SMM Lead Midday Review]

SMM March 14 News:

Today, the SMM 1# lead average price rose by 25 yuan/mt from the previous day to 17,300 yuan/mt. Secondary refined lead suppliers, due to poor transactions, expanded ex-factory discounts, with mainstream supplies quoted at a discount of 100-50 yuan/mt to the SMM 1# lead price, while the absolute price remained basically flat compared to the previous day. Today's ex-factory quotes for tax-free refined lead in the market were at 16,250-16,300 yuan/mt. Some downstream battery producers intended to restock on a need basis, but they were still waiting for a price drop due to lead prices fluctuating at highs. Secondary lead smelters reported poor transactions today.

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