The weekly Davis Index for US whole undrained batteries decreased by 3¢ to 32¢/lb delivered US consumer on Wednesday amid macroeconomic uncertainties.
The index for soft lead also decreased to 64.6¢/lb delivered US consumer on Wednesday from 64.9¢/lb on March 18. The Davis Index for mixed hard lead remained at 64¢/lb.
The shutdowns of vehicle manufacturing plants have had an adverse effect on battery and lead scrap prices. Market participants cited current state-by-state lockdowns across the US as the key reason prices have fallen this week. Some suppliers also anticipate downward pressure on batteries and scrap prices to continue into the next week with LME lead trending down on Wednesday.
The official three-month LME lead contract closed on Wednesday at $1,607/mt, down by $23/mt from its close of $1,630/mt on March 18.