Declining Lead Prices Stimulated Recyclers' Shipments, Scrap Battery Arrivals at Smelters Recovered This Week [SMM Scrap Battery Weekly Review]

SMM May 15 News:

SHFE lead prices fluctuated downward at the beginning of this week, rebounded slightly mid-week but lacked momentum, and weakened again approaching the weekend.

The pullback in lead prices triggered panic selling by recyclers, improving scrap battery arrivals at smelters and slightly lifting raw material inventory. After restocking demand was partially met, smelters took the opportunity to lower procurement prices. Looking ahead to next week, lead ingot inventory buildup around the delivery date is expected to weigh on lead prices, keeping them in the doldrums. Lead prices are expected to provide limited support for scrap battery prices. Combined with currently subdued retirement volumes, tight supply among recyclers, and limited circulation, smelter raw material inventory is expected to pull back again.