Cost support, weak demand, secondary crude lead edges up slightly before fluctuating [SMM Secondary Crude Lead Weekly Review]

SMM June 18:

This week, secondary crude lead prices rose, with a weekly increase of 175 yuan/mt. Secondary lead operating rates edged down, the sector was generally at a loss, tight scrap battery raw material supply provided cost support, and downstream made just-in-time procurement only, with overall trading sluggish. Next week, the Dragon Boat Festival holiday coinciding with downstream mid-year stocktaking will keep demand weak. Maintenance-production resumptions competition on the supply side, coupled with bearish pressures on the macro front, is expected to keep secondary crude lead prices moving sideways and in the doldrums.