SHANGHAI, Jul. 30 (SMM) - The latest VAT rebate cut from 50% to 30% almost produces no influence on irregular secondary lead smelters, SMM survey finds.
Most unqualified secondary lead smelters pay no attention to the rebate cut as they do not enjoy the policy previously. Lots of small unqualified secondary lead smelters still keep operation, though most register a slip in production on account of shortage in raw materials, SMM learns.
Irregular secondary lead smelters note that tight supply and higher prices of scrap batteries do not improve slightly as regular smelters fail to cut purchase prices for scrap batteries.
Battery replacement slows even in peak season. Traders are less willing to hunt scrap batteries due to high temperatures. Both factors help to drive scrap battery supply down.
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