Secondary Lead: Significant Price Disparity Observed in Secondary Refined Lead Offers, Downstream Enterprises Adopt Cautious Wait-and-See Approach [SMM Lead Midday Market Review]

SMM September 3 news:

The SMM #1 lead average price rose by 25 yuan/mt to 16,750 yuan/mt today. Mainstream secondary refined lead cargoes in east China and north China were at parity with the SMM #1 lead average price ex-works, while trader cargoes could be discounted by 50 yuan/mt. Individual cargoes self-picked up from production sites in southwest and south China were discounted by 200-100 yuan/mt. Downstream enterprises adopted a wait-and-see approach with cautious purchases. Logistics in Henan and Hebei gradually resumed today, allowing partial finished goods to flow out from in-plant inventory. Market participants monitored the impact of social inventory changes on lead prices. The secondary refined lead procurement sentiment stood at 0.23 today, while the sales sentiment was 0.99 (historical data is available in the database).