SMM5 March 21 Battery Market Newsletter

[SMM Lead Concentrates Market Update] This week, domestic smelters reported that lead concentrate quotes in the market continued to show significant divergence. Among them, high-grade lead concentrates (with lead content exceeding 55%) remained in tight supply, with market quotes staying stable compared to last week. Some smelters noted that the slight increase in lead concentrate prices in April was because, following the weakening of precious metal prices, sellers opted to slightly raise TCs as a substitute for adjusting the payable indicator, while there were no obvious signs of easing in overall lead concentrate supply in the market.