NEW YORK Most
free-market lead scrap prices weakened this week, with market
participants noting that tags are following recent dips on the
London Metal Exchange.
Lead scrap prices fell
to a range of 78 to 80 cents per pound from 79 to 81 cents
previously, remelt lead weakened to 82 to 84 cents per pound
from 83 to 85 cents and cable lead narrowed to 82 to 83 cents
per pound from 82 to 84 cents.
The drift followed
declines on the LME, with three-month lead ending the official
session at $2,084 per tonne (94.5 cents per pound) June 18,
down 5.8 percent from $2,214 per tonne ($1 per pound) two weeks
earlier. Prices recovered slightly on June 19 to $2,091.50 per
tonne (94.9 cents per pound).
Meanwhile, whole junk
batteries remained unchanged at 39 to 41 cents per pound, with
sources noting that one major buyer was buoying the entire
"I have heard they are
overpaying, but I am not sure why they are doing it," one
battery seller told AMM. "They must really need the
material at this point."
Zinc scrap tags fell
across the board, sources said.
New zinc clippings
fell to 63 to 65 cents per pound from 65 to 67 cents, old zinc
to 48 to 50 cents from 50 to 52 cents and galvanizers
dross to 65 to 67 cents from 67 to 69 cents.
three-month primary zinc contract ended the official session at
$1,852 per tonne (84 cents per pound) June 18, down 4.7 percent
from $1,943.50 per tonne (88.2 cents per pound) two weeks
earlier. On June 19, the contract closed at $1,871 per tonne
(84.9 cents per pound).