SMM August 31:
China’s waste lead-acid battery market prices held up well today. According to an SMM survey, about 60% of smelters raised purchase quotes by 50-100 yuan/mt, mainly for electric bicycle batteries; some smelters had already adjusted prices over the weekend, while the remaining 40% kept quotes steady for now, and some smelters introduced limited-time price guarantees to stimulate arrivals. Recyclers followed by raising their recycling purchase quotes by 50-100 yuan/mt; those who had already adjusted over the weekend had not finalized quotes today. Recycler sentiment was divided, with holding back from selling to wait and see and selling at prevailing prices each accounting for half; overall, wait-and-see bullish sentiment was relatively strong. Smelter arrivals were moderate, but recyclers generally reported that feedstock remained difficult to source; although willingness to sell improved, actual shipments were constrained by tight material supply. Downstream battery plants still mainly engaged in just-in-time procurement. In the short term, scrap battery prices are expected to consolidate on a strong note, and attention should be paid to the sustainability of futures trends, smelter arrivals, and changes in recyclers’ willingness to hold back from selling.
