The weekly Davis Index for US heavy soft lead rose by 1.2¢/lb to 64.6¢/lb delivered US consumer on Wednesday amid increasing demand, especially in the export market, and LME lead prices.

 

Volumes for lead scrap and batteries are normalizing and demand for lead scrap exports is rising, as major lead-buying countries like India and regions like the Middle East reopen after two-month lockdowns. 

 

Rising domestic and exports demand also resulted in the weekly index for mixed hard lead rising by 1.2¢/lb to 61.2¢/lb delivered on Wednesday.

 

US whole undrained lead batteries prices trended flat for the second straight week, with the index for the material remaining unchanged at 32.7¢/lb delivered US consumer on Wednesday. The prices for lead batteries have moved in a narrow range of 32-33¢/lb for around three weeks because supply is outpacing demand for the material, according to market participants.

 

The Davis Index for lead ingot premiums, which fell by 0.9¢/lb on June 10, held at last week’s levels of 8¢/lb under the three-month LME lead contract amid improved LME lead prices.

 

The official three-month LME lead contract closed Wednesday at $1,783.50 up by $8.50/mt from $1,775/mt on June 10. Scrap dealers anticipate LME lead’s current volatility to bring in better prices, but the general long-term outlook is leaning towards a sideways market for the material.

 

Leave a Reply

Your email address will not be published.