SMM January 8 News:
The SMM #1 lead average price dropped 175 yuan/mt from the previous day to 17,300 yuan/mt today. Mainstream spot order quotations for secondary refined lead with tax were at premiums of -225~-100 yuan/mt against the SMM #1 lead average price, while mainstream tax-excluded secondary refined lead factory quotations were 15,850-15,900 yuan/mt. Lead prices fell significantly, suppliers sold off goods at large discounts, downstream inquiries were moderate but wait-and-see sentiment was strong, with only some downstream enterprises restocking at low prices. Market activity improved compared to yesterday, purchasing sentiment for secondary refined lead was 1.71, and selling sentiment was 2.04. (Historical data can be queried by logging into the database).
