Secondary Lead: Downstream Enterprises Prefer Just-in-Time Procurement of Primary Lead, Refined Lead Transactions Relatively Difficult [SMM Lead Midday Review]

SMM August 22 News:

The SMM #1 lead average price fell by 25 yuan/mt to 16,650 yuan/mt today. There were fewer available secondary refined lead cargoes, and suppliers' willingness to sell was also low. Spot orders for ex-factory prices including tax were at a premium of 0-25 yuan/mt against the SMM #1 lead average price; some traders reported that cargoes self-picked up from production site were at a discount of about 50 yuan/mt against the SMM #1 lead average price; ex-factory prices excluding tax were around 15,650 yuan/mt. Due to the narrow price spread between primary lead and refined lead, in some regions, the prices of secondary refined lead even exceeded those of primary lead. Downstream enterprises preferred just-in-time procurement of primary lead, making refined lead transactions relatively difficult. The sentiment for purchasing secondary refined lead today was 0.25, and the sentiment for selling was 0.85 (historical data can be accessed by logging into the database).