The weekly Davis Index for US whole undrained batteries fell by 1.3¢/lb to 31¢/lb delivered US consumer on Wednesday, as supply picked up in advance of automakers reopening their plants next week.
Lead batteries prices have remained in the range of 31-33¢/lb delivered over the past two weeks as batteries manufacturers returned to work. However, some market participants are seeing prices as low as 28¢/lb delivered in a few US regions. With automotive plants ready to open Monday, market participants expect batteries demand to reach near normal levels by June.
The index for lead scrap trended flat to down on Wednesday after LME lead declined for a second consecutive week. The Davis Index for heavy soft lead decreased by 2.8¢/lb to 59¢/lb delivered, and was flat for lead ingot premium at 9¢/lb above the LME lead three-month contract. The index for mixed hard lead also remained unchanged at 58¢/lb.
The official three-month LME lead contract closed Wednesday at $,1624.5/mt, down by $13.5/mt from $1,638/mt on May 6.