Lead scrap rises, but market seen coming under pressure
Apr 25, 2014 | 03:21 PM
| Sean Davidson
NEW YORK Lead scrap prices rose over the past two weeks following an uptick in terminal markets, although many expect tags to come under pressure as supply improves and demand weakens.
Lead auto battery scrapthe bellwether gradeinched up to 39 to 41 cents per pound delivered to smelters from 37 to 39 cents April 8. Most trades were put in a range of 38 to 40 cents on a picked-up (pre-freight) basis.
While lead prices on the London Metal Exchange rose around 5 cents per pound during the same two-week period, market participants said prices for most lead scrap sold to smelters failed to post such lofty gains as larger consumers fought to keep tags down.....
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