SMM September 19:
Waste lead-acid battery prices dropped back slightly this week and then held steady, with the mainstream market tax-inclusive scrap e-bike lead-acid battery currently maintained at 9,900-10,050 yuan/mt. As the volume of retired batteries has not improved, downside room for scrap battery recycling prices is relatively small; additionally, with the National Day and Mid-Autumn Festival holidays approaching and the northern region entering the busy farming season, recycling operations for some recyclers may slow down. Keep an eye on secondary lead smelters' raw material stockpiling demand in late September. Overall, waste lead-acid battery prices are more likely to rise than fall.
Domestic lead prices fluctuated upward, and the inflow of imported crude lead became more active. Recently, Russian crude lead arrived at Ningbo port and Japanese crude lead at Shanghai port, with self pick-up prices roughly at parity or at a small premium against the SMM #1 lead average price. Domestic secondary crude lead production changed relatively little, and with supplementary supply from overseas crude lead sources, supply is slightly loose now, but it is still 0-50 yuan/mt more expensive than secondary refined lead. In addition, downstream lead consumption improved, and demand for lead alloys is expected to increase. Monitor the purchasing intensity of downstream alloy smelters for secondary crude lead.
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