Secondary Lead: Downstream Battery Producers Adopt a Wait-and-See Approach, Refined Lead Spot Orders Maintain Pre-Holiday Discounts [SMM Lead Midday Review]

SMM January 5 News:

The SMM #1 lead average price today increased by 100 yuan/mt from the pre-holiday level to 17,225 yuan/mt. Mainstream secondary refined lead spot order quotations with tax were at discounts of 150–0 yuan/mt against the SMM #1 lead average price, while mainstream tax-excluded secondary refined lead ex-works quotations were around 15,850 yuan/mt. Spot orders of secondary refined lead were limited, with few quotations. Downstream battery producers adopted a wait-and-see approach and purchased cautiously, showing weak willingness to procure spot orders. Today, the purchase sentiment for secondary refined lead was 0.7, while the sales sentiment was 1.02. (Historical data can be queried in the database.)