China Large Secondary Lead Smelters Suffer Continuous Losses

SHANGHAI, Sept. 18 (SMM) – Large secondary lead producers in China reported continuous losses as the latest VAT rebate cut increased costs by about 400 yuan per tonne, SMM learnt.

Secondary lead prices were mainly 12,650-12,800 yuan per tonne this week with average price at 12,730 yuan per tonne, slipping 45 yuan per tonne from last week. However, both scrap automobile battery (white shell) and motive battery average price was up 5 yuan per tonne week on week, adding to costs by 8 yuan per tonne.

Scrap automobile battery (white shell) prices fell slightly in some regions thanks to a cut in procurement prices by lead smelters. But secondary lead smelters still registered losses due to the VAT rebate cut. 

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