Secondary Lead: Lead Prices Slightly Decline, Secondary Refined Lead Supply Transactions Improve [SMM Lead Midday Review]

SMM September 24:

Today, the SMM #1 lead average price fell by 25 yuan/mt to 16,950 yuan/mt. In east and north China, mainstream secondary refined lead cargoes were at a discount of 50-0 yuan/mt against the SMM #1 lead average price, with a few manufacturers offering limited supply at a premium of 25 yuan/mt. The ex-tax prices ranged from 15,650 to 15,750 yuan/mt. In south and south-west China, discounts of 200-100 yuan/mt were observed, with the mainstream ex-tax price around 15,700 yuan/mt. Lead prices edged down, and transactions for secondary refined lead cargoes improved. The procurement sentiment for secondary refined lead was 1.35, while the sales sentiment was 1.24 (historical data can be queried in the database).