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China Buying Interest Gets Little Boost from Falling Secondary Lead Prices
Nov 11, 2015 11:21Source:SMM
China secondary lead buyers still show low interest in face of price declines, SMM points out.
SHANGHAI, Nov. 11 (SMM) – China secondary lead buyers still show low interest in face of price declines, SMM points out.
Secondary lead prices have dropped to 12,500-12,600 yuan per tonne (tax included) on Nov. 11, compared with 11,450-11,550 yuan per tonne (tax excluded).
However, most downstream buyers hold wait-and-see attitude, though lead and secondary lead prices already hit this year’s new low. This is largely hurt by anemic demand, SMM explains.
Disqualified secondary lead producers keep steady operation at present, leaving spot supply healthy. This, together with, falling scrap battery prices, will lend no support to secondary lead prices.
Scrap motive batteries mainly trade at 7,250-7,350 yuan per tonne on Nov. 11, versus 6,750-6,900 yuan per tonne for scrap automobile batteries (white shell).
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