Secondary Lead Smelters Resume Production After Holiday, Battery Scrap Prices Are Expected to Rise [SMM Battery Scrap & Secondary Crude Lead Weekly Review]

SMM, February 7:

After the Chinese New Year holiday, the resumption of production at secondary lead smelters is concentrated around the Lantern Festival, leading to an increase in demand for raw material battery scrap. However, as some recyclers and stores have not yet resumed operations, there is certain purchase pressure for battery scrap. Additionally, coupled with the upward fluctuation of lead prices, the market generally expects an increase in battery scrap prices. As of February 7, 2025, the mainstream tax-inclusive purchase price for EV battery scrap ranged from 9,850-10,050 yuan/mt.

The number of smelters selling secondary crude lead domestically is fewer than those selling refined lead. Combined with the limited number of secondary crude lead enterprises currently in operation, the market supply of secondary crude lead remains relatively tight. As of February 7, 2025, the mainstream tax-exclusive delivery-to-factory price ranged from 15,850-15,950 yuan/mt. Some downstream enterprises are adopting a wait-and-see sentiment due to the high-level fluctuation of lead prices, resulting in average transaction performance during the week.

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