Secondary lead: Secondary refined lead with large discounts was still available, downstream enterprises replenished inventory at low prices for rigid demand [SMM Lead Midday Review]

Today, the average price of SMM 1# lead fell by 25 yuan/mt from yesterday to 17,500 yuan/mt. The mainstream ex-factory tax-included prices of secondary refined lead were quoted at a discount of 400-200 yuan/mt to the average price of SMM 1# lead. Due to the ample supply, some refineries actively sold at a larger discount.

Additionally, the mainstream ex-factory prices of refined lead without tax were reported at 16,300-16,350 yuan/mt. Downstream battery enterprises observed the market and replenished inventory at low prices for rigid demand. The spot transactions of refined lead were mediocre today.