SMM, January 10:
Currently, large secondary lead smelters in Jiangsu, Inner Mongolia, Shandong, Shanxi, Anhui, and other regions have suspended production. Before halting operations, these smelters had mostly depleted their raw material inventories. Some companies are still purchasing at low prices, while most have indicated plans to resume purchases after the holiday. According to SMM's experience, with delayed resumption of operations by battery scrap recyclers after the holiday and high procurement demand from smelters, battery scrap prices are likely to see a significant increase post-holiday. Recently, due to insufficient stockpiling intentions by downstream battery producers ahead of the Chinese New Year holiday, lead prices have fluctuated rangebound with limited rebound potential. Amid insufficient profit margins, the increase in battery scrap procurement prices by secondary lead smelters has been slow. As of January 10, 2025, the mainstream tax-inclusive procurement price for EV battery scrap ranged from 9,800 to 10,100 yuan/mt.
Regarding secondary crude lead, due to weak purchasing intentions from downstream companies recently, secondary crude lead transactions have also faced pressure, with some smelters experiencing slight inventory buildup. As of January 10, 2025, the mainstream tax-exclusive ex-factory price ranged from 15,500 to 15,700 yuan/mt.
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