SMM May 9 report:
As of May 9, 2025, the finished product inventories of secondary lead smelters stood at 17,390 mt, an increase of 2,110 mt WoW. Due to the limited number of finished battery sales orders from downstream battery producers, the sluggish purchase willingness for lead ingots has led to sluggish transactions at smelters. Additionally, secondary refined lead, with its high costs and firm prices, lacks any competitive edge in transactions, resulting in the continued increase in finished product inventories at secondary lead smelters this week. Currently, there are very few secondary lead smelters operating normally. Coupled with the tight supply of scrap batteries, it is expected that the growth in inventories at secondary lead smelters may slow down next week.
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