Lead Prices First Declined Then Rose, Smelter Scrap Battery Purchase Prices Held Steady in Wait-and-See Mode [SMM Scrap Battery Weekly Review]

SMM April 17 News:

Lead prices dropped sharply at the beginning of this week, then rebounded in the latter half of the week, buoyed by macro factors. Only a few smelters slightly adjusted their purchase prices in line with the market, while most remained on the sidelines due to unstable lead prices and weak downstream consumption, with prices largely kept stable overall. On the recycling side, some smelters lowered scrap battery purchase prices in line with the decline in lead prices at the beginning of the week, triggering panic selling. Subsequently, as lead prices rebounded, the sentiment to hold back cargoes and hold back from selling re-emerged. Next week, some secondary lead smelters plan to reduce or halt production due to raw material shortages and sustained losses, which may somewhat ease the tight raw material supply situation. However, affected by the overall low volume of scrap battery retirements, restocking demand from smelters in normal production still exists. Scrap battery purchase prices are expected to remain largely stable, with wild swings unlikely.