Secondary Lead: Supply of Secondary Refined Lead Faces Persistent Sales Pressure, Downstream Enterprises Procure Selectively Based on Rigid Demand [SMM Lead Midday Review]

SMM September 23:

The SMM #1 lead average price today dropped by 25 yuan/mt to 16,975 yuan/mt. Mainstream secondary refined lead supplies in east and north China were at a discount of 50-0 yuan/mt against the SMM #1 lead average price, with a few manufacturers offering limited supplies at a premium of 25 yuan/mt. The tax-exclusive prices ranged from 15,650 to 15,750 yuan/mt. In south and south-west China, discounts ranged from 200-100 yuan/mt, with mainstream tax-exclusive prices between 15,700 and 15,800 yuan/mt. Transaction pressure for secondary refined lead supplies persisted, and downstream enterprises procured selectively based on rigid demand. The procurement sentiment for secondary refined lead today was 1.35, while the sales sentiment was 1.25 (historical data can be queried in the database).