Lead Prices Rise Slightly After Dragon Boat Festival, Secondary Refined Lead Refuses to Budge on Prices, Sellers Reluctant to Sell, Strong Wait-and-See Sentiment in Market [SMM Weekly Review of Refined Lead Spot Market]

In the spot market, there were only four trading days this week (June 2, 2025 - June 6, 2025). The SMM 1# lead price experienced a slight rebound, but on Friday, it fell below 16,500 yuan/mt, hitting a new low since May. The recovery of secondary lead smelters was limited during the week, with enterprises halting production cuts and suspending shipments or continuing to hold back sales amid a premium market for SMM 1# lead. Downstream procurement favored primary lead supplies. In the primary lead market, suppliers in Henan province quoted premiums of 0-25 yuan/mt against SMM 1# lead or discounts of 180-150 yuan/mt against the SHFE lead 2507 contract. Smelters in Hunan province concluded transactions at discounts of 50-40 yuan/mt against SMM 1# lead to meet just-in-time demand. As the weekend approached, discounts narrowed slightly in Henan and Hunan provinces. Work and production suspensions during the Dragon Boat Festival holiday gradually resumed, and trading activity in the spot market improved slightly.

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