SHFE Lead Prices Rebounded and Price Spread Between Primary Lead and Secondary Refined Lead Expanded

SHANGHAI, Mar 22 (SMM) - SHFE 2304 lead contract rebounded from the low level and rose sharply last Friday. But the price difference between primary lead and secondary refined lead gradually expanded. The price spread remained at 0-50 yuan/mt last Monday. Most secondary refined lead smelters mainly shipped cargoes under long-term orders, while the market transactions of primary Lead performed well. Most lead-acid battery companies purchased primary lead in the spot market while signing long-term contracts for secondary refined lead. In light of the rebounding SHFE lead prices last Tuesday, some secondary refined lead smelters began to quote and ship in the form of small orders. As such, the price difference between primary lead and secondary refined lead expanded to 100-50 yuan/mt.