[SMM Flash News] This week, the ex-factory, tax-included prices of secondary refined lead were trading at a contango of 120-0 yuan/mt against the SMM 1# lead average price, as suppliers' willingness to sell increased amid rising lead prices. Additionally, the operating rate of downstream lead-acid battery production rose, and demand for cargoes self-picked up from production site of lead ingots improved, leading to a decline in finished product inventories at secondary refined lead smelters.