Secondary lead: Some downstream enterprises are hesitant to buy due to price hikes, while smelters report improved transactions [SMM Lead Midday Review]

SMM July 21 News:

Today, the SMM #1 lead average price rose by 100 yuan/mt WoW to 16,800 yuan/mt. The mainstream tax-included secondary refined lead supply was priced at a premium of 0-50 yuan/mt against the SMM #1 lead average price ex-factory, while the mainstream tax-excluded price ranged from 15,850 to 15,900 yuan/mt. Some downstream enterprises purchased goods out of fear of price increases, and smelters reported improved transaction volumes. Additionally, due to the relatively small price spread between most primary lead supply and secondary refined lead, downstream enterprises still preferred to purchase spot orders from the primary lead market.