Lead scrap prices in Delhi fell by Rs500-2,083/mt ($7-29/mt) on Wednesday from the prior week on weak demand.
The weekly Davis Index for secondary lead ingot settled at Rs141,117/mt ex-works Delhi producer, down by Rs2,083/mt Wednesday, as demand for secondary lead ingot from battery makers dropped for the second week in a row. The Davis Index for secondary lead ingots ex-works in Mumbai settled at Rs141,700/mt, up by Rs700/mt.
The Davis Index for lead batteries (drained) settled at Rs84,325/mt del Delhi consumer, down by Rs500/mt Wednesday from the prior week. Prices of batteries remained flat in Mumbai and the Davis Index settled at Rs84,450/mt del Mumbai consumer, marginally up by Rs283/mt Wednesday from the prior week. A slowdown in the auto sector has meant smelters shied away from bookings for battery scrap.
The three-month LME lead contract fell by $34/mt to $1,810/mt Tuesday from the prior week, while the LME cash contract closed at $1,820/mt down by $34/mt Tuesday.
($1 = Rs71.30)