Scrap Battery Turned to a Wait-and-See Stance After Gains, with Limited Downside Room for Prices Amid Tug-of-War Between Sellers and Buyers [SMM Scrap Battery Weekly Review]

SMM, August 14:

At the start of this week, scrap battery prices were lifted by gains in SHFE lead. Some smelters raised EV battery purchase prices by 50-100 yuan/mt, and traders followed suit. In the middle and latter part of the week, SHFE lead retreated after a rapid rise, the nonferrous metals sector weakened, and market sentiment turned subdued, but scrap battery quotes remained stable. With scrap battery supply in the market tight and peak-season expectations building, recyclers became more reluctant to sell. Smelter inventory levels diverged; enterprises with low inventories showed stronger willingness to restock, but actual arrivals were moderate, and a tug-of-war emerged between pushing for lower prices and holding prices firm.

Next week, scrap battery prices are expected to consolidate within a narrow range. With lead prices likely to remain weak, smelters will strictly control procurement costs, recyclers will be cautious in selling, and the tug-of-war may intensify further. There is limited downside room for prices. Watch SHFE lead, smelter restocking, and whether the battery peak season materializes.