SMM October 28 News:
The SMM #1 lead average price today dropped by 25 yuan/mt to 17,225 yuan/mt compared with yesterday. The mainstream spot order discount price was 50-0 yuan/mt lower than the SMM #1 lead average price, and the mainstream ex-factory offer excluding tax was 16,000 yuan/mt. Spot cargo supply in the market was limited, and suppliers offered few quotations. A large lead-acid battery producer in Central China is expected to undergo maintenance for seven days. Meanwhile, raw material inventories at other downstream producers were moderate, and pick-up of goods under November long-term contracts gradually started. Purchasing enthusiasm for spot orders of lead ingots declined. The purchasing sentiment for secondary refined lead today was 0.82, while the sales sentiment was 1.46 (historical data can be queried in the database).
