SMM Analysis: Lead Market Dynamics as Secondary Smelters Prepare for Production Resume

[SMM Analysis: As February Draws to a Close, Which Secondary Lead Smelters Are Preparing to Resume Production?]

SMM, February 20: On the lead ingot supply side, due to the decline in lead prices, suppliers narrowed their discount quotations, especially for secondary refined lead, where the discount against the SMM 1# lead average price narrowed from 150-100 yuan/mt to 50-0 yuan/mt. On the raw material side, store operators and scrap battery recyclers, fearing further price drops, sold off their inventories, improving the raw material arrivals at secondary lead smelters. Some companies reported an increase in vehicles queuing for unloading, leading to a surge in raw material inventory at the plants. Meanwhile, companies lowered their scrap battery purchase prices by 50-100 yuan/mt.