Secondary Lead: Limited Market Supply with Few Quotations from Suppliers [SMM Lead Midday Review]

SMM October 27 News:

Today, the SMM #1 lead average price fell by 50 yuan/mt WoW to 17,250 yuan/mt. The mainstream spot order discount price was 50-0 yuan/mt below the SMM #1 lead average price, and the mainstream ex-factory offer excluding tax was 16,000 yuan/mt. Spot cargo supply in the market was limited, and suppliers offered few quotations. Downstream battery producers maintained moderate raw material inventory, while November long-term contracts gradually began cargo pick-up, leading to a decline in spot order purchasing enthusiasm for lead ingots. Today, the purchasing sentiment for secondary refined lead was 0.4, and the sales sentiment was 1.55 (historical data can be queried in the database).