SHANGHAI, Dec. 1 (SMM) – SMM #1 lead mushroomed 100 yuan per tonne on Dec. 1 while prices of scrap battery, secondary lead and secondary refined lead prices only posted a modest rise in China, SMM learnt.
Ample supply of scrap batteries allowed secondary lead producers to lower their purchase prices. In response, low scrap battery prices will not support secondary lead prices.
Also, narrowing price gap added to primary lead’s attractiveness. SMM #1 lead quoted at 12,900-13,050 yuan per tonne, versus 12,700-12,850 yuan per tonne (tax included) for secondary refined lead. This left price gap between them at 200 yuan per tonne.
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