SMM December 31:
Weekly finished product inventories of secondary lead increased by 1,300 mt WoW to 5,000 mt. Lead prices retreated after a rapid rise this week, secondary refined lead suppliers' willingness to sell declined, and downstream buyers were in the year-end inventory counting and account closing phase, resulting in weak purchasing interest, leading to a slight increase in secondary lead finished product inventories. After the holiday, downstream battery producers are expected to maintain a strong wait-and-see sentiment, only restocking for rigid demand; coupled with the expected resumption of secondary lead smelters, SMM expects finished product inventories of secondary refined lead smelters to remain stable or increase slightly.
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