Secondary Lead: Spot Orders for Secondary Refined Lead Scarce, Downstream Enterprises' Rigid Demand Tends Toward Primary Market [SMM Lead Noon Commentary]

SMM August 26 News:

Today, the SMM #1 lead average price increased by 50 yuan/mt to 16,800 yuan/mt. The spot order market for secondary refined lead was scarce, with mainstream ex-factory prices at a premium of 0-50 yuan/mt against the SMM #1 lead average price. Some traders offered a discount of 50 yuan/mt for ex-factory prices, with limited transactions. It was reported that some primary lead supplies were available at a discount of 30 yuan/mt for ex-factory today. Downstream producers' rigid demand favored the primary market, and secondary refined lead supplies had no advantage. Today, the purchasing sentiment for secondary refined lead was 0.42, and the selling sentiment was 1.25 (historical data can be accessed in the database).