Secondary lead: Secondary lead producers' willingness to sell is poor, while downstream battery enterprises' enthusiasm for inquiries is high [SMM Lead Midday Review]

Published: Dec 10, 2025 12:04

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SMM December 10 News:

The SMM #1 lead average price today dropped by 125 yuan/mt from yesterday to 16,975 yuan/mt. Suppliers of secondary refined lead showed low willingness to sell, resulting in limited quoted quantities. Mainstream tax-inclusive ex-factory quotations were at premiums of -50~0 yuan/mt against the SMM #1 lead average price. Individual quotations in central and south-west China narrowed the discount to -75 yuan/mt. Tax-exclusive ex-factory quotations for refined lead were 15,750~15,800 yuan/mt. Downstream battery producers showed high enthusiasm for inquiries but maintained a wait-and-see sentiment, hoping for lead prices to fall below 17,000 yuan/mt before building inventory at lower levels. The procurement sentiment for secondary refined lead today was 1.77, while the sales sentiment was 0.75. (Historical data can be queried in the database.)

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