The Davis Index for lead batteries (drained) settled at Rs 83,388/mt ($1,131.32/mt) del Delhi consumer, down by Rs 1,237/mt on Wednesday. Prices dropped for a fourth successive week as smelters refrained from booking scrap.
The weekly Davis Index for lead batteries (drained) settled at Rs 83,117/mt del Mumbai consumer, down by Rs266/mt Wednesday.
Though large ingot consumers cited moderate demand for end-use products, bookings with smaller manufacturers have declined. Markets now await recovery of the auto sector which could give demand for lead batteries a push.
Bearish demand for ingots and built up inventories with producers pressured secondary lead ingot prices. The weekly index for secondary lead ingots settled at Rs 138,950/mt ex-works Mumbai producer, down by Rs250/mt on Wednesday. The weekly Davis index for secondary lead ingot settled at Rs 139,325/mt ex-works Delhi producer, down by Rs 1,750/mt.
The three-month LME lead contract settled at $1,837/mt, down by $11/mt from $1,848/mt at the closing hour on Tuesday from the week prior.