SMM August 20 Update:
The SMM #1 lead average price fell by 75 yuan/mt to 16,600 yuan/mt today. Quotations for secondary refined lead were scarce, with suppliers indicating limited spot orders and unwillingness to sell due to low prices. Mainstream tax-inclusive quotations against the SMM #1 lead average price were at premiums of 0~25 yuan/mt ex-works, while some cargoes self-picked up from production site were quoted at discounts of around 25 yuan/mt. Tax-exclusive mainstream ex-works cargo prices were 15,600~15,650 yuan/mt. Downstream battery producers purchased on a need basis, with spot orders favoring the primary lead market, making refined lead transactions difficult. The purchasing sentiment for secondary refined lead today was 0.25, and the selling sentiment was 0.68 (historical data can be accessed in the database).
