SHANGHAI, Jun. 29 (SMM) – Price advantage of secondary refined lead disappeared gradually, SMM stated.
Price spread between secondary refined and SMM #1 lead narrowed to 262 yuan per tonne last week, compared with 415 yuan per tonne during the week starting June 8. Secondary refined lead quoted 13,350 yuan per tonne in Shanghai last week, versus RMB 13,370 yuan per tonne for SMM lead, cutting price gap heavily.
SMM lead prices averaged 13,381 yuan per tonne while secondary refined lead averaged 13,119 yuan per tonne, up 19 yuan per tonne on a weekly basis.
Trading prices were 13,050-13,200 yuan per tonne for secondary refined lead last week. Tight liquidity and high inventories of finished/semi finished product inventories put a brake on downstream lead-acid battery producers’ purchase for raw materials, leaving trades soft.
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