[SMM Flash News] The supply of secondary crude lead in the market is tight, and suppliers are offering firm quotes. As of June 20, 2025, the ex-factory prices of mainstream secondary crude lead, excluding tax, were hovering around 15,850 yuan/mt, with the transaction prices of some supplies even approaching 16,000 yuan/mt upon arrival at the plant. The purchasing enthusiasm of downstream enterprises is generally low, but there are still enterprises with rigid demand for restocking that are accepting high-priced supplies. It is reported that there is already pressure on ex-factory transactions of refined lead at 15,800 yuan/mt, excluding tax; this indicates a severe inversion between the prices of secondary crude lead and refined lead.