SHANGHAI, Jan. 19 (SMM) – Secondary lead markets remained quiet even after the Chinese New Year is over. Traded volumes of scrap batteries are thin at the moment, but prices are stable.
Secondary lead producers used to close for the Chinese New Year until Lantern Festival. This year, however, most secondary lead smelters remained in operation during the holiday as consumption of secondary lead improved some and since LME lead prices were relatively firm.
Most secondary lead producers were not in a hurry to restock raw materials following the holiday since scrap batteries bought before the holiday are sufficient to meet production for now. Only a few scrap battery recyclers in Jiangsu raised prices by RMB 50/mt, but few deals were done.
Prices of ignition scrap batteries continued to hold stable at RMB 7,850-8,000/mt. SMM expects scrap battery prices to remain stable before the Lantern Festival.