The seasonal lull in lead prices suppresses prices while emotional support creates a tug-of-war; recyclers simultaneously hold onto stocks bullishly and sell off holdings bearishly.

The current lead prices are showing a range-bound fluctuation pattern: on one hand, the traditional off-season for consumption has dampened downstream demand, exerting clear downward pressure on lead prices; on the other hand, easing geopolitical tensions have boosted market sentiment, providing support for lead prices. Against this backdrop, recyclers’ attitudes have shown significant divergence: some traders are optimistic about the future lead price trend, believing there is still room for upward movement in purchase prices, and are choosing to hold onto inventory and sell at higher prices; others are more cautious and bearish about lead price movements, believing that current prices already have value for selling, and are opting to sell flexibly according to market conditions. (SMM)