Secondary Lead: Costs Support Refined Lead Prices, Downstream Just-in-Time Procurement Favors Primary Lead [SMM Lead Midday Review]

Published: May 26, 2025 12:04

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[SMM Lead Midday Review: Costs Support Refined Lead Prices, Downstream Just-in-Time Procurement Favors Primary Lead] SMM reported on May 26: Today, the SMM 1# lead average price rose by 25 yuan/mt WoW to 16,650 yuan/mt, with a price difference between primary metal and scrap of 50 yuan/mt. Secondary refined lead suppliers mainly quoted ex-factory prices with tax included at discounts of 50-0 yuan/mt against the SMM 1# lead average price. Some suppliers quoting on par with the average price indicated that downstream purchase willingness was weak, resulting in no transactions.

SMM, May 26:

Today, the SMM 1# lead average price increased by 25 yuan/mt from last Friday to 16,650 yuan/mt, with a price difference between primary metal and scrap of 50 yuan/mt. Secondary refined lead suppliers mainly quoted ex-factory prices at discounts of 50-0 yuan/mt against the SMM 1# lead average price, inclusive of tax. Some suppliers quoting on par with the SMM 1# lead average price indicated that downstream purchase willingness was weak, resulting in no transactions. Additionally, due to the more favorable supply of primary lead compared to secondary refined lead, downstream enterprises leaned towards the primary market for just-in-time procurement.

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