Secondary lead: Supplier's bullish sentiment is strong, tug-of-war between upstream and downstream for secondary refined lead intensifies [SMM Lead Daily Review]

SMM August 24 news:

Today, secondary refined lead suppliers had a strong bullish sentiment, with the suggested upward adjustment range for the online price at 50-150 yuan/mt. Some enterprises with tight supply did not release spot orders, and spot orders within the same industrial park had already been transacted at parity. A few smelters quoted firmly, and the ex-factory discount narrowed to 25 yuan/mt. However, the market mainstream quotations were at a discount of 100-75 yuan/mt to the SMM #1 lead average price. Downstream psychological purchase price level was 15,800 yuan/mt, showing obvious resistance to high prices. A few enterprises were bullish on the future market and did small-scale restocking for rigid demand today. Today, the SMM secondary refined lead average price was 15,875 yuan/mt, a discount of 100 yuan/mt to the SMM #1 lead average price. Supplier shipment sentiment was 2.64, and today's secondary refined lead purchasing sentiment was1.56 (historical data can be accessed in the database).