This week, domestic Pb50 TCs (weekly) remained flat at 150 yuan/mt Pb, and imported Pb60 TCs (weekly) remained flat at -$170/dmt. At the beginning of the month, enterprise processing fees were mainly under negotiation, with most enterprises indicating that standard ore TCs are expected to remain flat, mainly because mine production recovered somewhat in September, while maintenance at some ore-derived lead smelters continued, making it difficult for TCs to change. However, by-product revenues such as silver remain an important profit source for smelters, and silver-, zinc-, and copper-rich ores remain sought-after, with TCs edging down slightly. It is expected that in Q4, against the backdrop of reduced domestic mine output, overall TCs still have room to move lower.
![September 4 Scrap Battery Market Transaction Summary [SMM Daily Review]](https://imgqn.smm.cn/usercenter/TmYox20251217171721.jpeg)
