SHANGHAI, Jun. 9 (SMM) – Secondary lead smelters raised their procurement prices for scrap batteries another RMB 50-100/mt shortly after an equal increase in mid-May.
Although large secondary lead smelters in Hebei, Henan, and Hubei all raised their procurement prices from RMB 7,500/mt to RMB 7,550-7,600/mt in mid-May, sellers remain unimpressed and continue to refrain from selling. This has been exacerbated by falling lead prices, which have discouraged scrap battery dealers from building up their own stocks. The result is that secondary lead smelters are facing a supply shortage.
This prompted secondary lead smelters to further raise their offers to RMB 7,650-7,700/mt, but thus far to no avail.