US lead scrap and batteries prices moved within a narrow range on Wednesday in a market constricted by weak demand and low supply.
The weekly Davis Index for US whole undrained lead batteries decreased to 31.9¢/lb delivered US consumer on Wednesday from 32.8¢/lb delivered on April 8. The index for soft lead decreased by a penny to 59.9¢/lb.
Mixed hard lead prices saw the sharpest decline, as the Davis Index for the grade dropped by 2.3¢/lb to 58.3¢/lb delivered on Wednesday. The index for lead ingot premium also decreased to 9¢/lb above the official three-month LME lead contract from 9.4¢/lb on April 8.
Some market participants see steady demand for lead scrap, but supply has become tight in some regions of the US because some states have implemented stricter stay-at-home orders to contain COVID-19. The shutdowns have also created uncertainty about which direction lead scrap prices will move in the interim.
The official three-month LME lead contract closed Wednesday at $1,686.5/mt, down by $26.5/mt from $1,713/mt on April 8.