Refined Lead Ex-Factory Quotation Discount Narrows, Raw Material Price Decline Limited, Profit Performance Remains Poor [SMM Secondary Refined Lead Weekly Review]

SMM, February 21:

During the week, lead prices dropped significantly, and the ex-factory quotes of secondary refined lead suppliers narrowed their discounts from a premium of 150-100 yuan/mt against the SMM 1# lead average price to 50-0 yuan/mt. The mainstream ex-factory price of tax-free refined lead was 15,800-15,950 yuan/mt.

Although the price of raw material scrap batteries declined during the week, the drop was less than that of lead prices, resulting in poor profitability for secondary lead. As of February 21, 2025, the theoretical comprehensive profit and loss value for large-scale secondary lead enterprises was 170 yuan/mt, while for small and medium-sized secondary lead enterprises, it was -34 yuan/mt.

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