SMM News on June 20:
Lead prices struggled to rise, while scrap battery prices remained firm. Secondary lead smelters experienced low production and poor enthusiasm for shipping. During the week, the mainstream ex-factory prices of secondary refined lead, inclusive of tax, were at a discount of 50-0 yuan/mt against the SMM 1# lead average price, with some supplies quoted at a premium of 0-50 yuan/mt. Downstream battery producers were approaching mid-year inventory checks, and if accounts were closed, it would further impact lead ingot procurement. Meanwhile, the short-term supply of waste lead-acid batteries was difficult to alleviate, and the loss-making situation of secondary lead smelters might persist. As of June 20, 2025, the theoretical comprehensive profit and loss for large-scale secondary lead enterprises was -489 yuan/mt, and for small- and medium-scale secondary lead enterprises, it was -713 yuan/mt.
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