Oct 9 Scrap Battery Market Trading Summary [SMM Daily Review]

SMM News, October 9:

Last night, the SHFE lead 2611 contract gapped down. Today, quotations in China’s waste lead-acid battery market diverged. Some smelters lowered scrap battery purchase prices by 50-100 yuan/mt, while most smelters kept them unchanged. Recyclers’ recycling prices were mostly flat, with a few following smelters’ cuts. Overall, recyclers’ purchase conditions were average, and many recyclers reported that circulating supply in the market had been relatively limited recently. Individual recyclers in east China and north China reported that their daily scrap battery recycling volume in recent days was only around 10 mt. Smelters’ arrivals were average, but raw material inventory from earlier periods remained relatively sufficient. At present, purchasing as needed remained the main approach, and price adjustments were made cautiously. It was expected that scrap batteries would remain in the doldrums in the short term along with lead prices. Attention could be paid to smelters’ arrivals and inventory changes, subsequent purchase price adjustments, and the guidance of futures movements on market sentiment.