Scrap battery prices remained stable overall this week, with suppliers showing divergent shipment sentiment ahead of the holiday [SMM scrap battery weekly review]

SMM, September 24:

Although lead prices rose initially before pulling back this week, mainstream quotations for scrap batteries remained largely stable. After suppliers concentrated their shipments last week, smelters saw ample short-term arrivals of scrap battery raw materials, with inventories effectively replenished. This week, smelters generally maintained purchasing as needed, with limited willingness to adjust prices, leaving scrap batteries without a clear unilateral driver. According to an SMM survey, daily average arrivals of scrap battery raw materials at a major smelter in central China this week fell by more than 60% WoW from last week's spike high, while arrivals at most other smelters have returned to normal and remained broadly steady. As lead prices pulled back and the dual holidays approached, recyclers grew more cautious, with expectations diverging: some remained bullish and moderately stockpiled for after the holiday, while others continued to sell quickly and normally to reduce inventory risk. Scrap battery prices are expected to track lead prices in a narrow range after the holiday, with focus on restocking-driven price adjustments at smelters after inventory digestion, the pace of arrival recovery, and the release of supply amid recyclers' reluctance to sell.