The Prices of Lead-acid Battery Scrap Rose

SHANGHAI, Oct 19 (SMM) - The purchase of the lead-acid battery scrap by the secondary lead smelters recovered slowly as they suffered losses for a long time in late September. Lead prices kept rising on Monday and Tuesday last week, and the secondary lead smelters continued to be wait-and-see. The quotations of the lead-acid battery scrap rose to 8,600 yuan/mt (delivery to factory). The market transaction was average as the secondary lead smelters purchased on rigid demand. The lead prices pulled back on Wednesday, and the secondary lead smelters were afraid that the prices would fall further. The lead-acid battery scrap quotations fell to 8,575 yuan/mt. The spot transaction was sluggish as the holders were reluctant to sell. The lead prices rebounded to above the break-even point of the secondary lead later last week, and the lead-acid battery scrap prices stabilised with slight increase. The mainstream quotation of the battery scrap was 8,600 yuan/mt (delivery to factory), and some smelters quoted at 8,650 yuan/mt. The spot transaction was boosted by the higher lead prices.