Secondary Lead: Some Smelters Maintain Firm Offers, Secondary Refined Lead Transactions Still Under Pressure [SMM Lead Midday Review]

SMM August 25 News:

The SMM #1 lead average price rose by 100 yuan/mt to 16,750 yuan/mt today. After the lead price increase, suppliers' willingness to sell slightly improved, but there were fewer available sources of secondary refined lead, so some smelters' quotes remained firm. The mainstream spot order ex-factory prices, including tax, were at a premium of 0-25 yuan/mt against the SMM #1 lead average price. According to market feedback, in east China, some individual sources were at a discount of 100 yuan/mt against the SMM #1 lead average price, for self pick-up and cash payment. Downstream enterprises, fearing further price hikes, showed better purchasing sentiment, but they were still unsatisfied with the price of secondary refined lead; secondary lead smelters indicated that transactions were under pressure. Today, the purchase sentiment for secondary refined lead was 0.49, and the selling sentiment was 1.21 (historical data can be accessed by logging into the database).