NEW YORK Scrap lead battery free-market prices have
moved up a penny on the back of higher prices on the London
Metal Exchange, although some buyers say they are waiting to
see if the rise is a temporary symptom of post-fiscal cliff
Junk batteries moved up to a range of 37 to 39 cents per pound
this week from 36 to 38 cents previously, while all other lead
scrap grades were unchanged.
One buyer said that his company had received quotes as high as
41 cents per pound but didnt get a solid
quote. A second buyer noted that quotes for delivery into
the South were running into the 40-cent range.
A third buyer, who previously told AMM that his company would
reduce quotes to 35 cents per pound from 36 cents at the start
of January (amm.com, Dec. 19), instead increased his quotes to
37 cents per pound.
The LMEs three-month lead price traded at $2,419.50 per
tonne ($1.10 per pound) in Thursdays official session, up
3.7 percent from $2,333 per tonne ($1.06 per pound) on Dec.
The lead market is bumping up a little bit, but Im
trying not to move too much, the third buyer said.
The movement of scrap is still pretty good.
One broker noted that the presence of euphoric LME
prices in a traditionally slower holiday period was causing
some uncertainty over pricing especially astrading remained
slow. Well have to wait until next week, when some
of the big players come back into the market. If the LME stays
up, theyll be looking at inventory and production
schedules, he said.
Meanwhile, galvanizers top dross moved up to a range of
66 to 68 cents per pound from 65 to 67 cents previously, while
all other zinc scrap prices were unchanged.
The LME is up a penny, but it could be a one-day thing
with the bump from the fiscal cliff, one buyer
Three-month zinc traded at $2,127 per tonne (97 cents per
pound) in the official session Thursday up from $2,118 per
tonne (96 cents per pound) Wednesday.