Secondary Refined Lead Smelting Enterprises Reported High Profits as SHFE Lead Prices Fluctuated At Highs

SHANGHAI, Mar 27 (SMM) - SHFE 2305 lead contract prices extended gains last week and hovered at high levels. Traded prices of secondary refined lead under small orders were relatively high, while battery scrap purchase prices by secondary refined lead smelters were stable. Profits under small orders recovered to a high of 400 yuan/mt, according to SMM data. Most secondary refined lead smelting companies sold under long-term contracts.

The SMM average price of #1 lead ingots in the past 20 working days was 15,153.75 yuan/mt. Considering discounts of 300-50 yuan/mt in the long-term orders settlement, it is estimated that the profit of secondary refined lead smelting enterprises is 100-300 yuan/mt, which is better than last month.