Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US weekly lead scrap prices climbed on Wednesday as supply and demand balanced in the domestic scrap market.


The official three-month LME Lead contract increased by $4.50/mt from Jun 9 to close at $2,197/mt today.


Healthy scrap flows have been met with adequate demand for lead scrap after three months of being oversupplied. Prices for lead scrap have also inched up due to increased export inquiries from countries like South Korea.


The weekly Davis Index for heavy soft lead delivered US consumer increased by 1.5¢/lb to 85.7¢/lb on Wednesday while mixed hard lead climbed by 0.3¢/lb to 82.3¢/lb delivered.


Whole undrained batteries remained rangebound, falling 0.3¢/lb to 31¢/lb delivered US consumer on Wednesday. Trade in some regions in the Midwest has halted after a few smelters shut down for maintenance. The market is expected to remain oversupplied with participants expecting some movement in prices only after the smelters reopen.


In the primary market, Lead ingot premium remained unchanged at 17.5¢/lb delivered US consumer amid a dearth of material despite offers being heard as high as 20¢/lb delivered. 

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