Secondary Lead: Secondary refined lead circulating supply is scarce, upstream and downstream offer prices diverge, and market trading is sluggish [SMM Lead Daily Review]

SMM July 7 News:

Upstream secondary lead smelters offered few spot orders to outside, with ex-factory quotes ranging from parity to a discount of 20 yuan/mt, delivered goods at a premium of 50 yuan/mt, and suppliers temporarily halted sales; the market suggested a reduction of 0-25 yuan/mt in online prices, and downstream players waited on the sidelines with the market, resulting in scarce transactions and sluggish industry activity. The SMM secondary refined lead average price today was reported at 15,800 yuan/mt, at parity with the SMM #1 lead average price. The supplier selling sentiment stood at 0.53, and the secondary refined lead purchase sentiment today was 1.03 (historical data can be accessed by logging into the database).