Scrap Off-Season Combined with Bullish Sentiment Leads to Limited Battery Scrap Recycling Volume [SMM Secondary Lead Inventory Weekly Review]

SMM, February 14:

After the Lantern Festival, battery scrap recyclers gradually resumed operations. However, secondary lead smelters reported that recyclers had not fully returned to work, resulting in poor daily arrivals. According to recyclers, the current period is the off-season for scrapping lead-acid batteries, coupled with store owners holding back sales in anticipation of price increases, leading to low purchase volumes. As of February 14, 2025, the mainstream tax-inclusive purchase price for EV battery scrap ranged from 9,950-10,150 yuan/mt.

Since smelters selling secondary crude lead have not fully resumed operations, market supply remains tight. As of February 14, 2025, the mainstream tax-inclusive delivery-to-factory price ranged from 16,700-16,850 yuan/mt. Some lead alloy smelters reported hearing offers from traders for imported crude lead, with tax-inclusive prices at a discount of 100 yuan/mt against the SMM 1# lead average price, deliverable to the factory.

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