SHANGHAI, Aug. 18 (SMM) – In China, Secondary refined lead prices (tax included) improve marginally since late August after the VAT rebate cut from 50% to 30% July 1, SMM learns.
Influence of the rebate cut gradually goes up heading into August. The growth in costs throws most large secondary lead smelters into losses and thus, those smelters step up secondary refined lead prices (tax included).
Secondary refined lead quotes 12,900-13,000 yuan per tonne (tax included) before August while the prices grow to 13,100-13,150 yuan per tonne (tax included) currently, up by 150 yuan per tonne averagely.
Narrowing price gap between secondary refined and primary lead shifts more buyers to the latter. As such, primary lead prices are bolstered.
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