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Pre-holiday demand weakens, battery factories buy on dips
According to feedback from a native lead smelting plant in South China, today’s shipment volume is only 50% of normal levels. As the holiday approaches, downstream battery manufacturers’ procurement demand has weakened; combined with last week’s decline in lead prices, downstream buyers have already replenished stocks. At this stage, long-term contract deliveries can basically meet production needs, while spot purchasing by battery manufacturers remains sluggish, mainly buying small quantities on dips. (SMM)