SMM Lead Commentary: Price Parity Between Refined and Scrap Lead; Recycled Refined Lead Supplies Decline

**SMM Lead Afternoon Commentary: Price Parity Between Refined and Scrap; Average Transactions for Recycled Refined Lead Supplies**

SMM News on November 1: Today, the average price of SMM1# lead fell by RMB 25/ton to RMB 16,375/ton compared to yesterday. Due to environmental regulations and market conditions, production cuts and suspensions have been implemented for recycled refined lead, resulting in a decrease in circulating supplies. Consequently, ex-factory prices for recycled refined lead remained firm, creating an inverted pricing phenomenon compared to primary lead...