Secondary Lead: Widening Divergence in Purchase and Sales Expectations, Secondary Refined Lead Market Transactions Weak [SMM Lead Daily Review]

SMM, July 30:

Views from upstream and downstream players in the secondary refined lead market are markedly split. Upstream suppliers hold prices firm, with some cargoes intended for delivery at a premium of 75 yuan/mt over the SMM #1 lead average price; downstream buyers generally view prices as high, and primary lead offers more cost-effectiveness, with some enterprises calling for a 50 yuan/mt reduction in the online price. Spot order quotations are centered between parity and a discount of 50 yuan/mt ex-factory, sellers and buyers found it hard to agree, actual shipments were limited, and overall deal performance was weak. The SMM secondary refined lead average price was reported at 15,475 yuan/mt today, at a discount of 50 yuan/mt to the SMM #1 lead average price. Supplier shipment sentiment stood at 0.89, and purchasing sentiment for secondary refined lead was 0.98 today (historical data can be accessed by logging into the database).