Secondary Lead: Some Suppliers Hold Back Sales Amid Bullish Sentiment, Only a Few Enterprises Provided Quotes During the Morning Session [SMM Lead Midday Review]

SMM October 24 News:

The SMM #1 lead average price rose 175 yuan/mt today to 17,300 yuan/mt. The mainstream spot order discount prices ranged from a 100 yuan/mt discount to parity against the SMM #1 lead average price, while the mainstream ex-factory offers excluding tax were 16,000-16,100 yuan/mt. Approaching month-end and with the significant lead price increase, downstream battery producers' purchase willingness for spot orders of refined lead declined, with most preferring to wait for next month's long-term contract deliveries. Additionally, some secondary refined lead suppliers were bullish and held back sales, with only a few enterprises offering quotes during the morning session. Today's purchase sentiment for secondary refined lead was 0.45, while the sales sentiment was 1.95 (historical data can be queried in the database).