SMM August 12 News:
Today, the SMM #1 lead average price increased by 50 yuan/mt from yesterday to 16,775 yuan/mt. Suppliers of secondary refined lead showed increased enthusiasm in quoting, with a positive sentiment for cargo pick-up. The mainstream ex-factory price for non-taxed cargoes was 15,750-15,850 yuan/mt, with individual cargoes available at 15,780 yuan/mt delivered to the factory. The mainstream tax-included quotations were at premiums of 0-50 yuan/mt against the SMM #1 lead average price for ex-factory delivery, with individual traders offering cargoes self-picked up from production site at discounts of 25 yuan/mt for self pick-up. Downstream battery producers adopted a wait-and-see attitude and were cautious in purchasing. Smelters generally expressed difficulties in selling secondary refined lead. Today, the purchasing sentiment for secondary refined lead was 0.58, and the cargo pick-up sentiment was 1.31 (historical data can be accessed by logging into the database).
