Expanding Discounts Of Secondary Lead Shrank Smelters’ Profit Margins

SHANGHAI, Apr 25 (SMM) – The price difference between primary lead and secondary refined lead expanded from 125 yuan/mt to 150 yuan/mt last week. As most of the secondary refined lead available in the market contained high levels of bismuth, lead-acid battery makers favoured primary lead. Secondary lead smelters in some areas reported poor shipments. As of April 21, secondary refined lead was mostly quoted at discounts of 150-225 yuan/mt against the average price of SMM 1# lead on a tax-included and ex-factory basis, and smelters’ profits shrank to 139-247 yuan/mt.