SMM

In January, transactions in the lead concentrates market decreased. Due to the long-term contract supply for H1 2025 and the expected low future arrivals, pb60TC quotations have not seen significant increases for the time being. As the winter stockpiling of lead smelters nears its end, some smelters in certain regions are expected to undergo routine maintenance around the Chinese New Year, leading to a simultaneous decline in supply and demand in the lead concentrates market, with overall trading remaining sluggish. Additionally, regarding silver pricing, smelters hold a cautiously optimistic view of precious metal prices in January. Although macroeconomic news may impact silver prices, there are currently no plans to adjust the silver pricing coefficient for lead concentrates. Attention should still be paid to the post-Chinese New Year precious metals market trends to assess whether they will affect the silver pricing coefficient.

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