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Upside Room in Sight for China Secondary Lead Prices
Jan 6, 2016 16:26Source:SMM
Chinese secondary lead prices will enter upside track in the near future due to supply tightness and growing demand.
SHANGHAI, Jan. 6 (SMM) – Chinese secondary lead prices will enter upside track in the near future due to supply tightness and growing demand, SMM predicts.
Over half of disqualified secondary lead producers halt operation at present in Hebei due to continuing environmental protection crackdowns. Moreover, a growing number of producers are expected to suspend operation because of strengthening environmental protection inspection and workers returning to their hometown for China’s New Year holiday 2016. And downstream battery buyers will possibly build stocks before the holiday.
As such, purchase prices there fell 50 yuan per tonne to 7300-7400 yuan per tonne and 6750-6800 yuan per tonne respectively for scrap motive and automobile batteries (white shell) on January 6.
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