Flat Lead Scrap Market Price in Tokyo

Lead scrap market price is flat around Tokyo. Offshore lead ingot market price is lower than the level on Wednesday when Mitsubishi Materials increased the official ingot price by 8,000 yen per tonne. However, domestic scrap dealers expect the scrap price could keep the level when lower yen rate cancels the lower offshore price.

Lead cash price increased to US$ 2,300 per tonne at London Metal Exchange on Tuesday while the settlement decreased to US$ 2,180 in late last week. Japanese scrap dealers expect the offshore price couldn’t increase more and domestic scrap transaction price decreases slightly to 95-105 yen per kilogram for high grade scrap, 80-90 yen for battery electrode scrap and 70-80 yen for type scrap around Tokyo.

The demand is still weak for high grade scrap due to slow activity by secondary refineries. A refinery source said the users started to understand recently market price increases for high grade lead scrap when lead ingot market increases since July. However, the refineries are reluctant to pay higher price for scrap when they still have enough scrap stock.