Secondary Lead: Downstream Enterprises Intend to Purchase on Dips; Smelters Hold Cargo and Wait, Mostly Holding Back from Selling [SMM Lead Daily Review]

SMM News, August 14:

Today, the market's suggested secondary refined lead online price was lowered by 100-125 yuan/mt. Some smelters held cargo and took a wait-and-see stance, choosing to hold back from selling. Mainstream ex-works quote discounts against the SMM #1 lead average price narrowed to 50-0 yuan/mt. Downstream dealers had high inventories, end-use consumption was weak, purchase willingness was low, and they only intended to buy on dips. Upstream and downstream players showed significant divergence, and overall trading was thin. Today, the SMM secondary refined lead average price was reported at 15,600 yuan/mt, a discount of 50 yuan/mt against the SMM #1 lead average price. Supplier selling sentiment was 0.89, and today's secondary refined lead purchase sentiment was 1.24 (historical data can be queried by logging into the database).