SHANGHAI, Aug. 21 (SMM) – Secondary lead prices may be supported by the shortage in supply, Shanghai Metals Market foresees.
Most secondary lead smelters shut down in Hebei by the Beijing Parade and World Athletics Championships, which will lead to a drop in spot supply.
Secondary lead mainly quotes 12,700-12,850 yuan per tonne this week, with average prices at 12,755yuan per tonne, up 15 yuan per tonne from last week.
At the same time, scrap automobile batteries (white shell) and scrap motive batteries prices average 7,025 yuan per tonne and 7,525 yuan per tonne, respectively. Thus, smelting costs increase 7.5-8.5 yuan per tonne for secondary lead smelters.
As such, margins for secondary lead smelters are largely left unchanged.
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