SMM June 5 News:
Lead spot prices fluctuated at highs from the beginning of the week to mid-week, then pulled back sharply near the weekend. Compared with the weakening lead prices, smelters' scrap battery purchase prices showed resistance to declines, with mainstream reductions concentrated in the range of 50-100 yuan/mt.
This week, recyclers saw no improvement in collected supplies, and arrivals at smelters remained low. Combined with rising expectations that multiple secondary lead smelters would resume production in June, raw material procurement demand increased, supporting smelters in holding prices firm for purchases. Driven by the decline in spot prices, some recyclers sold accordingly, and arrivals at smelters recovered slightly, but circulating supplies in the market remained tight. Looking ahead to next week, smelters' restocking demand persists, and scrap battery purchase prices are expected to remain relatively stable.
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