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).
![September 29 Scrap Battery Market Transaction Summary [SMM Daily Review]](https://imgqn.smm.cn/usercenter/guTSZ20251217171722.jpg)
![SMM Shanghai and Other #1 Lead Markets: Suppliers Actively Pre-selling October Cargoes, Market Tends Toward Discounted Trading [SMM Midday Commentary]](https://imgqn.smm.cn/usercenter/bAjSC20251217171721.jpg)

