Secondary Lead: Secondary lead smelters still primarily focus on shipments under long-term contract, while the price of refined lead from spot orders remains relatively firm [SMM Lead Midday Review]

Published: Jun 4, 2025 12:02

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SMM, June 4:

Today, the SMM 1# lead average price increased by 50 yuan/mt from yesterday to 16,425 yuan/mt. The willingness to sell at secondary lead smelters was average, with most still focusing on fulfilling long-term contracts. The mainstream ex-factory prices of secondary refined lead had a premium of 100-0 yuan/mt against the SMM 1# lead average price. The price difference between primary metal and scrap narrowed to -25 yuan/mt, with the ex-factory price of refined lead (excluding tax) ranging from 15,500 to 15,650 yuan/mt. Downstream lead-acid battery producers adopted a wait-and-see attitude and made cautious purchases, with spot orders only meeting immediate needs.

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