SHANGHAI, Jul. 27 (SMM) – Secondary lead smelters’ profits were cut by growing cost and slipping secondary lead prices last week, SMM noted.
Secondary lead majorly traded between 12,650-12,800 yuan per tonne last week with average price of 12,710 yuan per tonne, down 25 yuan per tonne on the weekly basis, narrowing profits for secondary lead smelters.
Smelting cost increased 70-80 yuan per tonne for secondary lead smelters. Scrap automobile battery (white shell) price averaged 7,015 yuan per tonne, up 45 yuan per tonne on the week. Scrap motive battery price averaged 7,515 yuan per tonne, rising 50 yuan per tonne from previous week, further cutting profits.
Tight supply and fierce competition among secondary lead smelters allowed scrap battery prices to stay high, SMM understood.
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