SHANGHAI, Dec 13 (SMM) – Operating rates across licensed smelters of secondary lead in Jiangsu, Anhui and Henan provinces averaged 55.8% in the week ending December 13, down 1.3 percentage points from the previous week.
New Chunxing in Jiangsu controlled output on the back of weakened consumption, lowering the average operating rate in Jiangsu by 4.7 percentage points on the week to 70%.
Henan Jinli limitedly purchased raw materials last week, with operation relying on existing stockpiles. This reduced its daily treatment volume of battery scrap and weighed the operating rate in Henan to 62.6%, down 4.1 percentage points on the week.
The rate in Anhui, meanwhile, climbed 3.4 percentage points to 39.4%, as Anhui Huaxin resumed operation in early December.
Downstream lead-acid battery producers have not commenced pre-holiday stockpiling amid slack consumption in a warmer winter. This, together with the limited price difference between primary and secondary lead, which drove consumers to primary products, prompted secondary refined lead producers to expand discounts slightly.
SMM assessed that, as of December 13, prices of secondary refined lead stood at a discount of 100 yuan/mt to flat against the average prices of SMM 1# lead, ex-work with tax included. Trades were barely made in premiums.
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