Secondary Lead: Downstream Battery Producers Fear Future Price Increases, Inquiries and Purchases of Lead Ingots Show High Activity [SMM Lead Midday Review]

SMM November 28 News:

The SMM #1 lead average price increased by 75 yuan/mt from yesterday to 16,975 yuan/mt today. Suppliers of secondary refined lead still showed sluggish willingness to sell, with no significant increase in quoted volumes. Mainstream spot order quotations including tax were at discounts of 25 yuan/mt to premiums of 50 yuan/mt against the SMM #1 lead average price. Ex-factory prices for non-tax refined lead were around 15,830 yuan/mt, while individual smelters in south China offered ex-factory prices for refined lead at 15,900 yuan/mt. Due to the slight catch-up rise in lead prices, downstream battery producers feared future price increases, showing high enthusiasm for inquiries and purchases of lead ingots. Today, the purchasing sentiment for secondary refined lead was 2.96, while the selling sentiment was 0.89. (Historical data can be queried in the database.)