Increased Inflows of Imported Crude Lead, Domestic Secondary Crude Lead Transactions Under Pressure [SMM Secondary Crude Lead Weekly Review]

SMM News on August 28:

Lead prices continued to consolidate at highs. The incentive for imported crude lead inflows increased, weighing on transactions of domestic secondary crude lead. As of this Friday, mainstream domestic secondary crude lead transaction prices (ex-VAT) delivered to plants clustered around 14,650 yuan/mt, with VAT-included prices at SMM #1 lead average price -100 yuan/mt; mainstream imported crude lead cargoes (including 0.2Sb and 0.15Sn) were traded at a discount of around 150 yuan/mt to the SMM #1 lead average price. Looking into next week, lead prices were expected to continue to consolidate at highs. Profitability in imported crude lead was set to spur suppliers to actively sell, further intensifying transaction pressure in China’s secondary crude lead market.