Lead Scrap Price Weakening in Tokyo

Market price of lead scrap is weakening around Tokyo. Overseas lead market is declining and domestic official lead ingot price, an indicator for lead scrap price, is likely to be revised down though the official price was revised down by 26,000 yen per tonne only on 10 March. Market price is 175-180 yen per kilogram for high grade lead scrap, 125-135 yen per kg for electrode plate scrap, 165-175 yen per kg for typographic lead scrap and 120-135 yen per kg for low grade scrap.Lead settlement at London Metal Exchange continued decreasing on 10 March. The price downed by US$ 125 to US$ 3,035 per tonne from 7 March, decreasing by US$ 425 or 12% from the yearly highest at US$ 3,460 marked on 4 March.Japanese scrap dealers cannot set their purchasing prices lower despite weak lead market. Lead scrap supply is tightening around Tokyo and scrap sellers continue offering higher prices. Some sellers are offering near 200 yen per kg for high grade scrap against secondary lead smelters.Most scrap dealers are passing too higher prices while some dealers buy scrap at higher price for large-lot transaction.