Secondary Lead: The price of secondary refined lead remains inverted compared to primary lead. Downstream players are adopting a wait-and-see attitude, purchasing cautiously and not buying much [SMM Lead Midday Review]

Jun 03, 2025, at 12:06 pm

[SMM Lead Midday Review: Secondary Refined Lead Prices Still Inverted Relative to Primary Lead, Downstream Players Adopt Wait-and-See Approach, Cautious in Purchasing, with Limited Purchases] SMM reported on June 3: Today, the SMM 1# lead average price dropped by 25 yuan/mt from the level before the holiday to 16,375 yuan/mt. Secondary lead smelters showed low willingness to sell, with fewer quotes that were relatively firm. The price difference between primary metal and scrap was -75 yuan/mt, with secondary refined lead prices still inverted relative to primary lead.

SMM, June 3:

Today, the SMM 1# lead average price dropped by 25 yuan/mt from the level before the holiday to 16,375 yuan/mt. Secondary lead smelters showed low willingness to sell, offering fewer and relatively firm quotes. The price difference between primary metal and scrap was -75 yuan/mt, with the price of secondary refined lead still inverted compared to primary lead. Downstream lead-acid battery producers adopted a wait-and-see attitude, making cautious purchases. Spot orders were more inclined towards the primary lead market.

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