Secondary Lead: Secondary Refined Lead Quotations See Strong Intentions to Raise, Downstream Purchases Are Cautious with Limited Transactions [SMM Lead Daily Review]

SMM, August 7:

Secondary lead smelters suggested raising the listed price by 50 yuan/mt. Some offers were quoted at a premium of 75 yuan/mt against the SMM #1 lead average price for shipments; some spot orders were also offered at a discount of around 50 yuan/mt against the SMM #1 lead average price ex-works. Downstream purchasers showed strong wait-and-see sentiment, buying on dips, with a small number of deals concluded at a discount of 75-100 yuan/mt against the SMM #1 lead average price. Overall purchase willingness was not strong. The market tug-of-war intensified, and there was a divergence between quoted prices and actual transactions. Today, the SMM secondary refined lead average price was reported at 15,550 yuan/mt, at a discount of 25 yuan/mt against the SMM #1 lead average price. Supplier selling sentiment stood at 1.08, and today's secondary refined lead purchase sentiment was 1.31 (historical data can be accessed in the database).