SHANGHAI, Aug. 14 (SMM) – Lead prices skyrocketed from late July, broking through RMB 19,000/mt in early August. China Iron & Steel Association issued one article on August 10, blaming market speculations as one major factor behind crazy steel prices. Ferrous metals thus dropped, dragging down base metals. Lead prices also fell from highs. However, lead-acid battery scrap price stabilized.
Hysteresis was partially attributed to the stable price. Moreover, small secondary lead smelters closed down in response to environmental protection inspections. But, large secondary lead smelters showed high production enthusiasm, booming lead-acid battery scrap demand.
SMM expects battery scrap price to keep stabilizing in August, as lead price will stay firm amid strict environmental checks in Yunnan, tight supply of lead concentrate and crude lead and peak-season. This is positive for large lead-acid battery scrap recycling enterprises.
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