Scrap lead battery prices weak despite LME
Sep 25, 2012 | 04:33 PM
| Sean Davidson
Tags
lead scrap,
scrap batteries,
Exide Technologies,
Sean Davidson
NEW YORK — Scrap lead battery prices remained unchanged this week despite a big run-up in primary lead prices as consumers looked to take advantage of supply fundamentals.
Primary lead prices have jumped between 7 and 8 cents per pound in the past two weeks, sending scrap lead, remelt lead and cable lead prices up 5 cents per pound Monday, market participants said.
However, whole auto batteries were the sole scrap grade to remain unchanged at 43 to 45 cents per pound, indicating a relative weakness in battery prices.
London Metal Exchange three-month primary lead prices settled Tuesday at $2,292.50 per tonne ($1.04 per pound), up from $2,116 per tonne (96 cents per pound) two weeks earlier. The price has been on a steady rise since closing at $1,835.50 per tonne (83.3 cents per pound) Aug. 16. While other lead scrap grades followed the increase and gained 2 cents per pound two weeks ago (amm.com, Sept. 12), battery prices have stayed flat since mid-July, when primary lead was about 86 cents per pound.....
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