Crude Lead Import New Orders Decline, Domestic Secondary Crude Lead Transactions Weaken, Post-Holiday Wait-and-See Dominates [SMM Secondary Crude Lead Weekly Review]

Published: Sep 30, 2026 15:19 (GMT+8)

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SMM, September 30:

As of this Friday, the SMM crude lead CIF price (including 0.1-0.35 Sb, 0.1-0.25 Sn) was at a discount of 300-150 yuan/mt against the SMM #1 lead average price. This week, trading volume for imported crude lead new orders shrank, with only a small number of orders from late August and early September arriving at port. After the holiday, previously traded orders will arrive at port in a concentrated manner. Domestic secondary crude lead mainstream tax-exclusive transactions were around 14,900 yuan/mt, with some tin- and antimony-containing sources quoted at 15,050 yuan/mt ex-works. Trading volume pulled back MoM. Next week coincides with the holiday, and market trading will largely come to a halt. After the holiday, wait-and-see sentiment in the market will be relatively heavy.

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