Secondary Lead: Market Activity Significantly Declined, Refined Lead Supplier Quotations Were Scarce [SMM Lead Midday Review]

SMM September 30:

The SMM #1 lead average price was basically flat compared with the previous day at 16,800 yuan/mt on the last trading day before the holiday, with market activity declining significantly. Suppliers of refined lead offered few quotations, and prices were basically flat from the previous day. Mainstream secondary refined lead cargoes were at a discount of 50-0 yuan/mt against the SMM #1 lead average price, with some at a premium of around 30 yuan/mt. The tax-exclusive price was around 15,600-15,700 yuan/mt, and tax-exclusive secondary crude lead was around 15,700 yuan/mt delivered to plants. The procurement sentiment for secondary refined lead was 1.61, while the sales sentiment was 1.11 (historical data can be queried in the database).