Secondary Lead: Refined Lead Trading Cools as Downstream Lead Ingot Stockpiling Concludes [SMM Lead Daily Review]

Published: Sep 29, 2026 14:28 (GMT+8)

SMM, September 29:

Pre-holiday stockpiling is nearing its end, with market entities recommending an online price increase of 0-25 yuan/mt. Suppliers have tight spot orders and offer few quotes; downstream inquiries are weak, with low purchasing intentions; transaction prices range from a discount of 100-0 yuan/mt against the SMM #1 lead average price, little changed from yesterday. As downstream lead ingot stockpiling is completed, trading activity cools, and prices maintain a fluctuating trend. Today, the SMM secondary refined lead average price was 16,050 yuan/mt, at a discount of 75 yuan/mt to the SMM #1 lead average price. Supplier selling sentiment was 1.61, and today's secondary refined lead purchasing sentiment was 1.58 (historical data can be queried in the database).

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

Images in this article contain AI-translated captions for reference only.

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