Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US weekly lead scrap prices were rangebound for the third successive week on Wednesday as supply continued to outpace demand.


The weekly Davis Index for whole undrained batteries inched down by 0.9¢/lb to 32.5¢/lb delivered US consumer on Wednesday. Market participants expect prices to fall further amid ample supply. Some producers believe it will take at least 3-4 weeks before this trend reverses and prices begin to incline.


Prices for soft lead were under pressure amid a weaker export market and stable domestic demand with the Davis Index for heavy soft lead slipping by 0.8¢/lb to 80.9¢/lb delivered US consumer. However, the hard lead index rose by the same amount to 78.3¢/lb delivered. 


Lead ingot premiums increased by 0.6¢/lb to 13.5¢/lb delivered with participants projecting higher prices in the near term as supply remains extremely limited. 


LME lead prices dropped again this week with the official three-month LME Lead contract closing Wednesday at $1,944/mt down by $98.50/mt from $2,042.50/mt on Mar 3.

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