Prices of lead battery scrap in India fell in the week on low demand for secondary lead ingots from battery makers. The Davis Index for lead batteries (drained) settled at Rs84,367/mt ($1,177/mt) del Mumbai consumer, down by Rs483/mt. The index for lead batteries (drained) settled at Rs85,100/mt del Delhi consumer, down by Rs440/mt.
The Davis Index for secondary lead ingot settled at Rs140,200/mt ex works Mumbai producer down by Rs3,000/mt on Wednesday, also due to subdued demand.
Trades declined in the week after battery makers booked scrap actively for a week until Feb 19 ahead of the summer season. Battery producers are treading with caution as they refill inventories amidst the slowdown in auto sector. Lead smelters believe demand could decline further pressuring prices in the near term.
The Davis Index for secondary lead ingot settled at Rs141,350/mt ex works Delhi produces, down by Rs1,850/mt on Wednesday.
The three-month LME lead contract settled at $1,846/mt, down by $2/mt on Tuesday from the week prior.