SMM Sep. 19:
The SMM #1 lead average price rose by 25 yuan/mt to 17,000 yuan/mt today. In east and north China, mainstream secondary refined lead cargoes were at a discount of 50-0 yuan/mt against the SMM #1 lead average price, while discounts in south China ranged from 170-50 yuan/mt. The mainstream prices excluding tax were basically flat at 15,750-15,850 yuan/mt. Downstream enterprises prioritized purchasing primary lead, with secondary refined lead serving only as a supplement. Currently, spot cargoes in the market are tight, and the available secondary refined lead for transactions is also limited. The procurement sentiment for secondary refined lead was 1.37 today, while the sales sentiment was 1.27 (historical data can be queried in the database).
