The Lead Prices Remained Decline and the Transactions were Modest [SMM Afternoon Comment on Lead]

SHANGHAI, Oct 28 (SMM) - According to SMM survey, the spot price of lithium carbonate had risen for ten consecutive days since October 14.

In recent years, the demand for new energy vehicles has exploded, and the installed capacity of lithium power batteries is also increasing year by year.

The prices of battery-grade nickel sulphate were 39,500-41,000 yuan/mt as of Friday, an increase of 650 yuan/mt on the week.

In September, the average price index of domestic ores added 17 yuan/mt.

On October 12, spot prices of stainless steel in Wuxi market dropped more than those in the Foshan market.

Looking into to October, the supply of lead ingots is expected to tighten regionally as primary lead smelters in Yunnan have received a notice of power rationing, and the transportation of battery scrap in Anhui has been restricted due to the pandemic.

Shanghai copper cathode spots were quoted at premiums of 280-340 yuan/mt over 2205 contract today.

The average price of nickel, cobalt and battery-grade lithium carbonate in China was 190,000 yuan/mt, 525,000 yuan/mt and 421,000 yuan/mt respectively, up 43.2%, 54.4% and 456% year-on-year, due to the growth in demand from the new energy industry and the tight supply of lithium resources

SHANGHAI, Apr 28 (SMM) - Driven by robust demand from the new energy vehicle market, prices of lithium hexafluorophosphate sky-rocketed 400% last year, leading the gains among raw materials in the new energy vehicle industry chain.

[SMM Afternoon Comment: The trading recovered today, with a small number of transactions in the market] The #0 zinc transaction prices were 28,770~ 28,820 yuan/mt for mainstream brands, in premiums of 100 yuan/mt against Shanghai prices.