SHANGHAI, Apr. 30 (SMM) – Some Chinese secondary lead producers are becoming reluctant to sell due to optimistic outlook, Shanghai Metals Market’s survey finds.
The price of secondary lead in Jiangxi was heard between 12,200-12,300 yuan per tonne (excluding taxes) on Apr. 28, up 150-200 yuan from the level seen earlier this week, according to SMM data.
Secondary lead smelters in other regions also turned unwilling to move goods amid growing market optimism, SMM reports.
Rising scrap battery prices and longer payment period also gave them difficulty in sourcing raw material, another reason behind their low interest in sales, SMM says.
Currently, the price of automobile battery scrap rose 350 yuan per tonne, and 500 yuan per tonne for e-bike battery scrap from levels in late March, growing their production costs.
Cash payment by some unqualified secondary lead producers also reduced their availability of the material, according to SMM survey.
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