SMM June 27 Report:
During the week, the raw material procurement quotes of secondary lead smelters maintained an upward trend. While the willingness to sell of scrap battery recyclers improved, their purchasing sentiment also rose. It is reported that the procurement prices of scrap batteries from some scrap battery collection enterprises were higher than those of smelters. The reason is that recycling enterprises are bullish on the future market and hope to compete for market supplies in the near term to sell at higher prices in the future. Currently, the mainstream procurement price of tax-free scrap e-bike lead-acid battery scrap for secondary lead smelters ranges from 9,950 to 10,000 yuan/mt, with some recyclers offering procurement prices exceeding 10,000 yuan/mt per ton.
The supply of secondary crude lead in the market is scarce, and its price is generally higher than that of secondary refined lead. As of June 27, 2025, the mainstream delivery-to-factory price of tax-free secondary crude lead was reported to be around 16,000 yuan/mt, while the ex-factory quotes of some suppliers were as high as 16,300 yuan/mt (low bismuth content with a small amount of tin). The seller's market holds more sway, and downstream enterprises made just-in-time procurement to maintain production. During the week, transactions for secondary crude lead at 16,350 yuan/mt were still concluded.
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