US weekly lead scrap and whole undrained battery prices ticked down this week following expectations of supply outweighing demand in a busy buyer’s market.
Prices for whole undrained batteries declined with the weekly Davis Index for the material down by 2.1¢/lb to 30.9¢/lb delivered US consumer on Wednesday. In the Midwest regions, prices saw a wide range on both ends. Still, battery scrap prices are expected to slip in the coming months, according to participants.
Lead scrap prices dropped by a penny or more with the weekly indices for heavy soft lead and mixed hard lead settling at 86.1¢/lb delivered and 82.2¢/lb delivered US consumer, respectively. Overall sentiment in the lead market is firm since the past year. Participants expect ample scrap availability to keep secondary producers running at full capacity for the next couple months.
The Davis Index Lead ingot premium inched down by 0.3¢/lb to 17.2¢/lb but offers are being heard in the 20s for some regions.
The official three-month LME Lead contract increased by $7.75/mt from Jul 7 to close at $2,297/mt today.