Scrap battery prices remain firm, with a severe inversion between secondary crude lead and refined lead prices [SMM Scrap Battery & Secondary Crude Lead Weekly Review]

SMM June 20 report:

Lead prices rose first and then fell this week. Mid-week, recyclers' enthusiasm for selling improved due to concerns that smelters would lower their purchase prices for scrap batteries. In the second half of the week, individual enterprises in east China attempted to lower their purchase quotes, but the decline was limited due to poor arrivals. Currently, the prices of waste lead-acid batteries remain firm, with the mainstream tax-included price of waste e-bike lead-acid battery scrap ranging from 10,200 to 10,300 yuan/mt.

The supply of secondary crude lead in the market is tight, and suppliers are offering firm quotes. As of June 20, 2025, the mainstream ex-factory price of tax-excluded secondary crude lead is around 15,850 yuan/mt, and the transaction price for some supplies even approaches 16,000 yuan/mt upon arrival at the plant. Downstream enterprises generally have low enthusiasm for purchasing, but there are still enterprises with rigid demand for restocking that accept high-priced supplies. It is reported that there is already pressure for ex-factory transactions of tax-excluded refined lead at 15,800 yuan/mt, indicating a severe inversion between the prices of secondary crude lead and refined lead.

》Subscribe to view historical SMM metal spot prices