Weekly lead scrap prices in Indian markets rose on improved demand ahead of the summer season. The Davis Index for lead batteries (drained) settled at Rs85,540/mt ($1,196/mt) del Delhi consumer, up by Rs1,215/mt Wednesday.
The Davis Index for lead batteries (drained) settled at Rs84,850/mt del Mumbai consumer, up by Rs400/mt Wednesday. In Mumbai, an uptick in demand from battery makers gave scrap prices a lift.
The Davis Index for secondary lead ingots settled at Rs143,200/mt ex-works Mumbai producer, up by Rs1,500/mt Wednesday. Bookings with lead smelters rose from battery manufacturers in the week. Ahead of the summer season, inverter and UPS manufacturers have ramped up their production.
Battery producers believe prices will rise further in the coming week on the back of bullish demand. If the increased demand sustains, scrap supply could tighten in the market. The weekly Davis Index for secondary lead ingot settled at Rs143,200/mt ex-works Delhi producer, up by Rs2,583/mt.
The three-month LME lead contract was up by $38/mt to close at $1,848/mt on Tuesday from the prior week.
($1 = Rs71.52)