Secondary Lead: Market Enters Holiday Mode Early, Trading Sluggish [SMM Lead Daily Review]

SMM, September 30:

Pre-holiday stockpiling of secondary refined lead wound down, and market participants suggested keeping online prices unchanged. Smelter quotations were on par with SMM #1 lead, with a small number quoted at a discount of 100 yuan/mt. Downstream buying largely halted, with only sporadic rigid demand, and some purchase interest was at 15,975 yuan/mt. Trading was sluggish, the market entered holiday mode early, and prices had no momentum to fluctuate for the time being. Today, the SMM secondary refined lead average price was 16,050 yuan/mt, a discount of 75 yuan/mt to the SMM #1 lead average price. Supplier selling sentiment was 1.32, and secondary refined lead purchasing sentiment today was 0.85 (historical data can be queried in the database).