China’s secondary refined lead market remained relatively stable on Oct. 15, with downstream inquiries and purchasing interest showing little change from the previous day. Overall trading was moderate as suppliers resisted selling at lower prices while buyers remained selective.
Smelters proposed lifting online offers by 100 yuan per metric ton, while some downstream buyers indicated they would accept increases of about 75 yuan. Tax-included ex-works prices were assessed at 16,050-16,150 yuan per ton, with some cargoes changing hands at a discount of 50 yuan against the SMM No. 1 lead average price. Tax-excluded transactions were around 14,900 yuan per ton.
The combination of restrained selling and only moderate buying indicates that negotiations, rather than a broad surge in physical demand, were driving the day’s price discussions.
A separate maintenance event at a large primary lead smelter in central China is expected to continue until Nov. Routine work on rotating equipment was reported to reduce lead ingot output by 300-500 metric tons per day, with the main effect at the primary smelting stage and a smaller impact during refining.