The Supply of Battery Scrap Increased Slowly and the Prices Remained High

SHANGHAI, Aug 22 (SMM) - As the lead prices declined at the beginning of last week, most secondary lead smelters lowered the purchase prices of battery scrap by 25-50 yuan/mt. The cargo holders of battery scrap were less willing to ship and the smelters purchased as needed. Therefore, the transactions were poor. In the middle of last week, the lead prices rebounded. Due to the tight battery scrap supply, the cargo holders held the prices firm. However, the secondary lead smelters were unwilling to increase the purchase prices, hence the transactions were not smooth. In the second half of last week, lead prices continued to fall, but the prices of battery scrap remained stable. Smelters in some regions lowered the purchase prices again, and the transactions were poor. On the supply side, the supply of battery scrap was still tight before the peak season, and the supply was tight to varying degrees in different regions. Overall, the supply and demand of battery scrap remained stable last week, and secondary lead smelters were still less willing to purchase due to the high prices.