SHANGHAI, Jul 22 (SMM) – SMM #1 lead prices slipped 100 yuan per tonne to 13,100-13,250 yuan per tonne July 22 while secondary lead prices held flat July 21 at 12,650-12,800 yuan per tonne today, SMM learns.
High scrap battery price is the main support to firm secondary lead prices. Most secondary lead smelters still keep operation despite of light profits, resulting in fierce competition among those smelters to hunt scrap batteries, which allows scrap battery prices to stay high, SMM understands.
Tightness in scrap batteries is worsened by scrap battery stores’ reluctance to sell, lending support to scrap battery prices again.
Some regular secondary lead smelters report troubles in sourcing scrap batteries currently even if they raise procurement prices. As such, secondary lead prices will not be set for drop in near term.
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