SHANGHAI, Jun. 19 (SMM) – Price gap between secondary refined and SMM #1 lead narrowed to 260 yuan per tonne this week from 415 yuan per tonne on June 9, SMM stated.
Average price for secondary refined lead dropped 40 yuan per to 13,100 yuan per tonne whereas SMM #1 lead averaged 13,360 yuan per tonne, tumbling 195 yuan per tonne, cutting price edge.
Secondary refined lead quoted 13,150-13,200 yuan per tonne in Jiangsu, versus 13,150-13,350 yuan per tonne for refined lead.
Trading prices were 13,050-13,150 yuan per tonne for secondary refined lead this week. Some downstream lead-acid battery producers cut production in the anemic season and most will be on vacation. Thus, they basically have no need for building stocks, leaving trades for secondary refined lead soft.
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