Secondary Lead: Downstream Observes Cautiously, Refined Lead Transactions Weaker Than Yesterday [SMM Lead Noon Commentary]

SMM 1# lead average price remained unchanged from yesterday at 17,350 yuan/mt. Suppliers of secondary refined lead followed the market trend, with mainstream sources being offered at a discount of 100-0 yuan/mt to SMM 1# lead on an ex-factory basis. Due to poor purchase willingness from downstream enterprises, some regions (such as Hunan and Guangxi) saw discounts of 200-120 yuan/mt. Today, the ex-factory quotations for tax-excluded refined lead were in the range of 16,200-16,350 yuan/mt, with some individual sources being offered at 16,150 yuan/mt. SHFE lead edged down, leading to cautious purchases from downstream buyers, and refined lead transactions were weaker than yesterday. Subscribe to view SMM metal spot historical prices.