The Davis Index for lead batteries (drained) settled at Rs84,950/mt ($1,192/mt) del Delhi consumer, unchanged from the week prior, as demand from secondary lead ingot makers weakened.
Lead scrap prices in India remained flat for most grades as demand failed to rise over the past two weeks. In the prior week, excess scrap supply pushed prices down by Rs3,000-4,000/mt and this week, demand did not revive. The Davis Index for lead batteries (drained) settled at Rs85,075/mt del Mumbai consumer from Rs85,033/mt prior week.
The Davis Index for secondary lead ingot settled at Rs144,929 ex-works Mumbai producer, marginally down by Rs71/mt from the prior week. Demand from battery makers remained tepid which affected the prices. The Davis Index for secondary lead ingot settled at Rs144,200 ex-works Delhi producer, up by Rs1,000/mt. Trades thinned as producers awaited for the prices to rise.
The three-month LME lead contract fell by $37/mt at $1,915/mt on Tuesday from the prior week.
($1 = Rs71.25)