Secondary Lead: Primary Lead Supply Is Scarce, Downstream Battery Producers Primarily Purchase Secondary Refined Lead [SMM Lead Midday Review]

SMM October 22 News:

The SMM #1 lead average price today remained flat from yesterday at 16,700 yuan/mt. The mainstream spot order discount price was 50-0 yuan/mt below the SMM #1 lead average price, with some sources at a premium of 50 yuan/mt delivered. The mainstream ex-factory offer excluding tax was 15,800 yuan/mt, and transaction prices in some regions tended toward 15,700-15,750 yuan/mt. Primary lead supply was scarce, and offers were firm. Downstream battery producers mainly purchased secondary refined lead. Additionally, downstream battery production orders in south China performed weaker than in the north, and transaction activity was sluggish. The procurement sentiment for secondary refined lead today was 2.28, while the sales sentiment was 1.89 (historical data can be queried in the database).