Secondary Lead: Some Downstream Enterprises Made Purchases at Lower Prices, Overall Procurement Sentiment Improved Compared to Yesterday [SMM Lead Midday Review]

Published: Nov 25, 2025 12:03

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SMM November 25 News:

The SMM #1 lead average price today dropped by 75 yuan/mt to 17,000 yuan/mt compared with yesterday. After the lead price fell, suppliers of secondary refined lead showed lower willingness to sell and were less willing to quote. The mainstream spot order quotations including tax were at premiums of -50~0 yuan/mt against the SMM #1 lead average price, while the ex-factory quotations for refined lead excluding tax were 15,800~15,850 yuan/mt. Downstream battery producers remained on the sidelines, while some enterprises purchased at low prices, and overall purchasing sentiment improved compared with yesterday. Today, the purchasing sentiment for secondary refined lead was 2.14, and the selling sentiment was 0.61 (historical data can be queried in the database).

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