Secondary Lead: Significant Price Discrepancy Between Traders and Smelters, Downstream Enterprises Show Low Procurement Enthusiasm [SMM Lead Midday Market Review]

Published: Sep 2, 2025 12:03

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SMM September 2 news:

The SMM #1 lead average price remained flat at 16,725 yuan/mt today. Secondary refined lead offers were scarce, with significant price discrepancies between traders and smelters. Mainstream secondary lead smelters' ex-factory prices (including tax) were at a discount of 50-0 yuan/mt against the SMM #1 lead average price. Traders in east China quoted discounts around 25 yuan/mt, with some self pick-up offers at 100 yuan/mt discounts. It was reported that primary lead cargoes commanded a premium of 60 yuan/mt against the SMM #1 lead average price for delivery, while some secondary refined lead cargoes were offered at 50 yuan/mt premiums for delivery. Downstream enterprises showed limited purchasing interest. Today's secondary refined lead procurement sentiment stood at 0.22, while sales sentiment was 0.84 (historical data available in the database).

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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