Lead Scrap Rises by 5 yen/kg in Tokyo

Lead scrap market price increased by 5 yen per kilogram around Tokyo after the official lead ingot price increased by 21,000 yen per tonne for August shipment. The scrap price reached 110-120 yen per kg for high grade scrap, 65-75 yen for battery scrap, 105-110 yen for type lead alloy scrap and 55-65 yen for mixed scrap. The offshore market is firm after recent bottom in mid-August. Lead ingot settlement at London Metal Exchange was US$ 1,880 per tonne on Friday, which was US$ 185 higher than the level on August 15 when Mitsubishi Materials revised the official price. The scrap market interests around Tokyo try to find the next trend including Chinese industrial activity after Beijing Olympic game would impact on offshore market move. A source from secondary alloy maker expects the scrap supply could keep low level around Tokyo in September while the source said the high grade scrap arrivals is around half of a year ago level. However, the supply is almost even for the low level demand when the demand decreases for no.1 lead scrap. The dealers concern the lower scrap supply.