Secondary lead: Downstream inquiries show moderate enthusiasm, and restocking for immediate needs still mainly relies on purchases under long-term contracts [SMM Lead Midday Review]

SMM July 4 News:

Today, the SMM 1# lead average price increased by 25 yuan/mt from yesterday to 17,025 yuan/mt. The mainstream cargo was offered at a discount of 50-0 yuan/mt against the SMM 1# lead average price, and the ex-factory quotes for cargo in Central China and nearby regions could reach a discount of 120 yuan/mt. The mainstream ex-factory prices for tax-free refined lead in the market ranged from 15,900 to 16,000 yuan/mt. Downstream enterprises showed average enthusiasm for inquiries, with restocking for immediate needs still primarily through long-term contract purchases, and only selectively purchasing a small amount of spot order cargo.

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