Secondary Lead: Suppliers Hold Prices Firm and Hold Back from Selling, Upstream and Downstream Price Bidding Intensifies [SMM Lead Daily Review]

SMM July 22 News:

Today, the market suggested that the secondary refined lead online price be lowered by 100-125 yuan/mt. Some upstream merchants quoted 15,700 yuan/mt, held prices firm and held back from selling, unwilling to sell at low prices; spot orders were offered at a discount of 30-50 yuan/mt ex-factory. Downstream players were bearish on the market outlook, slowed their procurement pace, were in no hurry to purchase, and mostly chose to wait and see for lower prices. Market sentiment was weak, divergences between buying and selling were obvious, spot transactions were hard to increase in volume, and overall trading was thin. The SMM secondary refined lead average price was reported at 15,600 yuan/mt, at a premium of 25 yuan/mt over the SMM #1 lead average price. The supplier selling sentiment was 0.59, and the secondary refined lead purchasing sentiment today was 2.06 (historical data can be accessed by logging into the database).