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Secondary Lead: Upward Trend in Futures Lead Boosted Downstream Sentiment; Inquiry Activity Improved Today with Better Refined Lead Transactions [SMM Lead Midday Review]

  • Mar 24, 2025, at 4:08 am
[SMM Lead Midday Review: Rising Lead Futures Prompt Downstream Buyers to Act; Inquiries and Refined Lead Transactions Improve Today] SMM March 24: The SMM 1# lead average price remained unchanged WoW at 17,300 yuan/mt. Secondary refined lead suppliers followed the market trend. In north China, mainstream sources were sold ex-factory at a discount of 50-0 yuan/mt against the SMM 1# lead average price. In Hunan, where discounts were larger, transactions occurred at a discount of 180 yuan/mt against the average price. In Guangdong, prices were quoted at a discount of 100 yuan/mt ex-factory.
SMM 1# lead average price remained unchanged from last Friday at 17,300 yuan/mt. Suppliers of secondary refined lead followed the market trend, with mainstream sources in north China being sold ex-factory at a discount of 50-0 yuan/mt against the SMM 1# lead average price. In Hunan, where discounts were larger, transactions were made at a discount of 180 yuan/mt against the average price, while in Guangdong, prices were quoted at a discount of 100 yuan/mt ex-factory. Due to a sudden rise in lead prices during the morning session, the spread between futures and spot prices became quite large. Downstream battery producers, fearing further increases, actively inquired about prices today, showing a clear improvement in their willingness to purchase lead ingots.
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