Secondary Lead: Refined Lead Suppliers Offer Few Quotations, Downstream Sentiment Leans Toward Wait-and-See [[SMM Lead Midday Review]]

SMM reported on May 7:

Today, the SMM 1# lead average price dropped by 50 yuan/mt from yesterday to 16,550 yuan/mt, with the price difference between primary metal and scrap at 0 yuan/mt. Due to loss pressures, secondary lead smelters had a low willingness to sell, with few quotations during the morning session. Smelters' quotations were at discounts of 50-0 yuan/mt against the SMM 1# lead average price, with individual quotations at premiums of 25-50 yuan/mt. Downstream enterprises held substantial inventories of lead ingots and, due to poor sales orders for finished batteries, had strong bearish sentiment. Overall, the trading performance of refined lead was average today.

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