The weekly Davis Index for US whole undrained batteries was flat at 37¢/lb delivered Wednesday, as suppliers struggled with low demand in a mild Midwest winter.
The Davis Index for soft lead followed the trend dropping by 1¢/lb to 72¢/lb and mixed hard lead falling by the same amount to 68¢/lb Wednesday.
The Davis Index Midwest premium for primary lead remained at 10¢/lb, unchanged from last week.
According to market participants, a confluence of mild weather, a sell-off in the stock market caused by coronavirus fears, and global macroeconomic concerns have restricted lead scrap prices.
Unlike other base metals, the three-month LME lead official contract did not see steep drops, but moved in a narrow range during the week, declining by $86/mt to $1,881/mt Wednesday, from $1,967/mt a week earlier. While the movement did not generate a lot of active buying and selling, it maintained downward pressure on prices, according to market participants.