September 21 Scrap Battery Market Transaction Summary [SMM Daily Review]

SMM, September 21:

Mainstream quotations for domestic waste lead-acid batteries held steady today, with some smelters raising prices by 50-100 yuan/mt, while recyclers' buying quotations remained unchanged for the time being. According to an SMM survey, after lead prices rebounded and rose, suppliers of scrap batteries showed stronger hold-back sentiment and reduced willingness to sell. Eighty percent of recyclers reported that from the weekend to today, upstream store suppliers showed low enthusiasm for both inquiries and shipments, generally holding back from selling in anticipation of higher prices and waiting for the next round of price adjustments from smelters. Wait-and-see sentiment in the market has intensified, with available spot cargo of scrap batteries currently tight and actual transactions sluggish. In the short term, scrap battery prices are expected to stabilize firm alongside lead prices, with some smelters possibly following up with slight increases. However, given that some smelters had already restocked raw materials substantially in the earlier period, the scope and pace of follow-up increases remain to be seen. Key factors to watch include the sustainability of the lead price rebound, smelters' purchasing price adjustment moves, the release of supply from recyclers holding back from selling, and downstream battery makers' follow-through on raw material procurement.