Secondary Lead: Both Buyers and Sellers Tested Each Other, Spot Orders for Secondary Refined Lead Performed Poorly Today [SMM Lead Midday Review]

SMM November 13 News:

The SMM #1 lead average price increased by 175 yuan/mt from the previous day to 17,500 yuan/mt today. The number of spot order quotations for secondary refined lead increased, and suppliers' willingness to sell rose significantly. Due to downstream battery producers' reluctance to purchase at high prices, the discounts on some secondary refined lead quotations widened. Today, the mainstream prices for spot orders were at discounts ranging from 120 to 0 yuan/mt against the SMM #1 lead average price, with the mainstream ex-factory quotations (excluding tax) at 16,100–16,200 yuan/mt. Both buyers and sellers were testing each other, resulting in poor transactions today. The procurement sentiment for secondary refined lead was 0.38 today, while the sales sentiment was 2.43 (historical data can be queried in the database).