Lead premiums rising as cold weather sets in

Dec 22, 2010 | 01:36 PM |

Demand for replacement lead-acid batteries has risen as drivers seek to replace units damaged by the harsh cold snap that has hit the Mid-and Northwest.

Lead premiums have risen to the 5- to 6.5-cent-per-pound range, with one trader pegging levels as high as 7 cents per pound vs. 4 to 6.5 cents previously.

"Buyers will have a hard time getting (4 cents)," one trader said.

The sudden wintery weather has boosted demand for batteries and taken some battery makers by surprise. Johnson Controls Inc. (JCI), Milwaukee, was said to be in the market buying lead, some market players said. JCI couldn't be reached for comment.....

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