SHANGHAI, Feb. 29 (SMM) – Despite volatile refined lead prices, secondary lead, scrap batteries and #2 lead prices maintain upward momentum in China recently, SMM learns.
SMM #1 lead prices registered a gain of 50 yuan per tonne on February 29 and purchase prices for scrap motive batteries hit 7,500 yuan per tonne in Hebei, versus 7,400-7,450 yuan per tonne in Henan, Shandong, Tianjin and Jiangsu. Henan Jinpeng Lead Industry stepped up procurement prices for scrap automobile batteries (white shell) to 6,930 yuan per tonne.
Currently, some qualified secondary lead smelters refuse high-priced raw materials. But operation restart at disqualified smelters lead to large demand and battery stores are unwilling to sell at lows. As such, scrap battery prices head for gains.
“Small traders sell scrap motive batteries at 7,350-7,400 yuan per tonne at present, which increases to 7,500 yuan per tonne after the batteries are transported to Hebei”, one large trader from Beijing said.
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