There were differences in offers from secondary refined lead holders, profit margin of secondary refined lead smelters increased amid rising lead prices

SHANGHAI, Jul 24 (SMM) – Higher costs gave a boost to lead prices. Spread between secondary refined lead and the average prices of SMM #1 lead was 200 yuan/mt. There were differences in offers from secondary refined lead holders, seeing high-bismuth lead at 200-250 yuan/mt (ex-factory, tax-included) discounts against SMM1# lead, and low-bismuth lead at premiums of 0-50 yuan/mt (ex-factory, tax-included) over SMM1# lead. Large secondary lead smelters reported profits of 218 yuan/mt, while small and medium-sized ones reported profits of 116 yuan/mt. Owing to large rise in lead prices, the profits of smelters increased recently. Attention will be paid to the impact of battery scrap price uptick on profits of smelters.