September 28 Scrap Battery Market Transaction Summary [SMM Daily Review]

SMM News, September 28:

Today, China’s waste lead-acid battery quotations edged down slightly. Smelters lowered scrap battery purchase prices by 50-100 yuan/mt, mainly for waste e-bike battery, and recyclers’ collection prices followed suit. With the Mid-Autumn Festival holiday over, the market resumed trading, but only three trading days remained before the National Day holiday. After scrap battery raw material arrived at plants in a concentrated manner ahead of the holiday, smelters’ inventory was generally ample, procurement was cautious, and the willingness to raise purchase prices was subdued. Recyclers’ buying and selling sentiment was average; some followed the market while others stayed on the sidelines, and overall trading was sluggish. In the short term, scrap battery prices were expected to consolidate on a subdued note along with lead prices. Ahead of the National Day holiday, stability was likely to prevail and trading was unlikely to improve materially. Attention should be paid to LME lead and spot lead price trends, smelters’ inventory drawdown, and the release of supply before and after the National Day holiday.