Stable raw material prices & slight increase in lead prices, losses at secondary lead smelters slightly alleviated [SMM Weekly Review of Secondary Refined Lead]

SMM, June 6:

During the week, there were still few sellers offering quotations for secondary refined lead. The mainstream ex-factory quotations for tax-included refined lead were quoted at premiums of 0-100 yuan/mt against the SMM 1# lead average price, with discount quotations rarely heard. Compared to the primary lead supply, which was generally offered at a discount, secondary refined lead still lacked cost-effectiveness. Lead-acid battery producers and traders prioritized the purchase of primary lead. Due to the relatively stable scrap battery prices during the week and a slight rise in lead prices, the losses of smelters slightly improved this week. As of June 6, 2025, the theoretical comprehensive profit and loss for large-scale secondary lead enterprises was -502 yuan/mt, while for small- and medium-sized secondary lead enterprises, it was -720 yuan/mt.

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