SHANGHAI, Aug 16 (SMM) – Licensed smelters of secondary lead in Jiangsu, Anhui and Henan maintained stable operations this week, with the average operating rate unchanged from a week ago at 56.1%, showed an SMM survey.
The average rate across smelters in Jiangsu was 50%, with rates in Anhui and Henan standing at 55.1% and 69.6%, respectively, all flat from a week ago.
This week, supply of secondary lead recovered as environmental probes across major production areas drew to an end. With a bullish outlook on prices, however, secondary smelters tended to firm up offers.
Producers of secondary refined lead offload cargoes at greater discounts given decent margins and growing discounts at smelters of primary lead. As of Friday August 16, secondary refined lead was traded in a discount of 150-100 yuan/mt against the average price of SMM #1 lead, with tax included.
