US weekly lead scrap and whole undrained battery prices held steady this week following expectations of soft demand as plants prepare to suspend activities for summer maintenance.
The official three-month LME Lead contract increased by $23/mt from Jun 30 to close at $2,289.50/mt today.
Prices for whole undrained batteries climbed this week with the Davis Index for the material up by 0.9¢/lb to 33¢/lb delivered US consumer on Wednesday. Buying activity continues to remain subdued in this market, especially in some Midwest regions.
Participants also expect the batteries scrap market to hold its prices at the current levels following strong supply over this month.
Lead scrap prices were unchanged with the weekly indexes for heavy soft lead and mixed hard lead at 86.5¢/lb delivered and 82.3¢/lb delivered US consumer, respectively.
Lead ingot premium inched up by 0.5¢/lb to 17.5¢/lb as the short supply continues. Offers continue to be heard at higher premiums with the commodity still being absent from the market.