SHFE Lead Contract Fell Slightly, and the Discounts of Secondary Refined Lead Narrowed

Published: Aug 22, 2022 09:32

Source: SMM

Save

SHFE 2209 lead contract price fell slightly last week, and the average SMM 1# lead ingot price dropped by 75 yuan/mt. However, secondary refined lead smelters still suffered narrow losses. The absolute price of secondary refined lead fell slightly and the average SMM secondary refined lead price only fell by 25 yuan/mt.

SHANGHAI, Aug 22 (SMM) - SHFE 2209 lead contract price fell slightly last week, and the average SMM 1# lead ingot price dropped by 75 yuan/mt. However, secondary refined lead smelters still suffered narrow losses. The absolute price of secondary refined lead fell slightly and the average SMM secondary refined lead price only fell by 25 yuan/mt. The discounts of secondary refined lead over SMM 1# lead ingot narrowed slightly compared with a week ago. Last Monday, SMM 1# lead ingots price fell sharply by 175 yuan/mt as SHFE lead declined. The discounts of secondary refined lead over SMM 1# lead ingot narrowed sharply from 300-250 yuan/mt on August 12 to 200-150 yuan/mt. When SHFE lead prices corrected slightly in the middle of last week, the discounts expanded slightly. However, SHFE lead prices and the price of SMM 1# lead ingot fell again last Friday. Meanwhile, the prices of secondary refined lead changed little, hence the discounts gradually narrowed.

Market

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 19:50

Lead Prices Stagnant, Smelters Maintain Firm Offers Amid Losses

Lead prices were in the doldrums, while secondary lead smelters maintained firm offers due to losses. The mainstream spot order ex-factory prices including tax narrowed the discount to the SMM #1 lead average price by 100 yuan/mt, shifting to a premium of 0–25 yuan/mt, with some smelters halting offers and sales.

Feb 6, 2026 19:50

Feb 6, 2026 19:49

"Domestic Secondary Crude Lead Market Slows as Holidays Approach, Smelters Halt Production"

Pre-holiday stockpiling by downstream enterprises had largely concluded, and a few had already entered the holiday period, completely suspending procurement. Next week, secondary lead smelters will enter a concentrated wave of production halts and holidays, resulting in sluggish trading activity in the spot market. Offers for spot refined lead orders were sparse, with prices moving in line with the market.

Feb 6, 2026 19:49

Feb 6, 2026 19:48

Sluggish Transactions in Domestic Secondary Crude Lead Market, Prices at 15,250-15,400 Yuan/mt

The domestic secondary crude lead market experienced sluggish transactions. As of February 6, 2026, the ex-factory tax-exclusive offers for domestic secondary crude lead stood at 15,250-15,400 yuan/mt. Downstream refined lead and alloy smelters gradually entered the holiday period, showing weak stockpiling willingness. Overseas lead ingot suppliers basically halted transactions with China due to poor consumption in the Chinese market, with only some previously concluded shipments maintaining normal in-transit transportation. The trading atmosphere in the secondary crude lead market will continue to weaken next week.

Feb 6, 2026 19:48