Will China Secondary Lead Prices Trace Refined Lead Prices down?

Published: Nov 27, 2015 17:38

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SMM #1 lead extended gains by 300 yuan per tonne for three days since Nov. 24 and this supports Chinese secondary lead prices.

SHANGHAI, Nov. 27 (SMM) – SMM #1 lead extended gains by 300 yuan per tonne for three days since Nov. 24 and this supports Chinese secondary lead prices. But SMM #1 lead prices dropped again on Nov. 27 and then will secondary lead prices trace down？

Gains in refined lead prices helped push up trading in secondary lead market. In response, secondary lead prices grew by 100-150 yuan per tonne on Nov. 26 with mainstream prices at 11,500-11,550 yuan per tonne in Jiangxi.

However, SMM #1 lead fell 75 yuan per tonne on Nov. 27. This led to pessimistic secondary lead smelters in a rush to sell and downstream buyers started watch from the sidelines.

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