Post-holiday lead prices swing wildly & scrap battery prices lag, suppliers' sentiment to hold back from selling intensifies [SMM scrap battery weekly review]

SMM, October 16:

After the holiday, SMM #1 lead prices initially fell before rebounding, swinging wildly around the 16,000 yuan mark. This week, scrap battery quotes were mostly flat, edging down slightly over the weekend, showing clear signs of lagging gains while remaining relatively resilient when lead prices pulled back. Smelters held relatively sufficient scrap battery raw material inventory and showed little willingness to raise purchase prices, leaving scrap battery prices struggling to catch up with limited upward momentum. Suppliers at retail outlets grew more cautious, holding back from selling amid a strengthening wait-and-see sentiment, resulting in fewer available cargoes in the market. Some suppliers shifted from waiting for higher prices to worrying about a pullback, while most recyclers maintained a fast-in, fast-out approach without building inventory, and a few passively accumulated inventory due to scarce supply. Next week, scrap battery prices are expected to consolidate on a subdued note within a narrow range, with close attention warranted on lead prices, the SHFE lead 2612 contract trend, and the pace of smelters' scrap battery raw material inventory digestion.