The weekly Davis Index for lead battery scrap was unchanged at 36¢/lb Wednesday, as market participants chose not to change to prices amid tight margins and low battery sales.
Lead scrap and premiums remained unchanged with the Davis Index for heavy soft lead remaining flat at 72¢/lb, and the Index for mixed hard remaining at 68¢/lb. Lead ingot premiums remained at 9¢/lb.
Persistently warm weather has adversely impacted battery scrap sales this year. Although a cold weather front is forecasted to move into the Midwest and East Coast, market participants believe it is too little too late, and that margins likely won’t improve.
Despite flat January prices, the market is optimistic that prices will increase in February, with LME lead rising over the past few weeks in tandem with other base metals, like copper.
The official three-month LME lead contract price rose by around $3/mt to $1,967/mt on Wednesday from $1,964/mt last week.