Secondary Lead: Ex-factory quotes for refined lead are mainly on par, with some downstream enterprises cautiously purchasing based on rigid demand [SMM Lead Midday Review]

SMM, May 20:

Today, the SMM 1# lead average price fell by 75 yuan/mt from yesterday to 16,650 yuan/mt, with the price difference between primary metal and scrap at 50 yuan/mt. During the morning session, there were fewer quotations for secondary lead. The mainstream tax-inclusive ex-factory quotations were mainly at parity with the SMM 1# lead average price. Downstream battery producers maintained a strong wait-and-see sentiment, with some enterprises holding a bearish outlook on the market and showing weak purchase willingness today. Meanwhile, some other enterprises restocked based on immediate needs and made cautious purchases in small quantities.

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