US weekly lead scrap prices were flat while whole undrained battery prices declined on Wednesday as supply outpaced demand.
The official three-month LME Lead contract was rangebound falling by $2/mt from Jul 21 to close at $2,344/mt today.
The weekly Davis Index for whole undrained batteries declined by 1.4¢/lb to 30.4¢/lb delivered US consumer on Wednesday. Demand for scrap batteries is growing though there is an ample supply in the Midwest. In the South too, the shutdown of some smelters over the past two weeks for maintenance has reduced buying activity in the region.
Lead scrap prices were flat on Wednesday after rising in the past week with the weekly indices for heavy soft lead and mixed hard lead holding unchanged at 86.7¢/lb delivered and 82.7¢/lb delivered US consumer, respectively.
The Davis Index Lead ingot premium also trended sideways as supply tightness continues to impact deals and inched down by 0.2¢/lb to 17.5¢/lb.