Secondary Lead: Spot supply of secondary refined lead is scarce; downstream accepts parity delivered at most [SMM Lead Daily Review]

SMM, July 10:

The mainstream recommended online price for secondary refined lead held steady from the previous day. Upstream smelters quoted spot orders of secondary refined lead EXW at parity with the SMM #1 lead average price and adopted a wait-and-see approach, pausing shipments. Downstream buyers made limited purchases on an as-needed basis, with spot transactions mostly concluded at discounts of 20-30 yuan/mt EXW. VAT-exclusive deals settled around 14,750 yuan/mt. Overall market trading activity was mediocre. Today, the SMM secondary refined lead average price was 15,925 yuan/mt, at parity with the SMM #1 lead average price. Supplier shipment sentiment was 0.95, while secondary refined lead purchase sentiment today was 0.15 (historical data can be accessed via the database).