Lead Scrap Price Keeps Flat in Tokyo

Market price of lead scrap keeps flat in wait-and-see mood around Tokyo. At the end of March, market price was 145-155 yen per kilogram for high grade lead scrap, 105-115 yen per kg for electrode plate scrap, 145-155 yen per kg for typographic lead scrap and 95-105 yen per kg for low grade scrap. High grade scrap approached 160 yen at the highest. Scrap dealer source said some secondary lead smelters paid more than 180 yen per kg.Overseas lead market is stable. Japanese official lead ingot price is expected to be revised up by 10,000-20,000 yen per tonne on 1 April. However, monthly average of Japanese official ingot price is likely to decrease temporarily at the beginning of April. Monthly average was 350,400 yen per tonne in March while the latest price was 310,000 yen. Domestic lead scrap market regards monthly average of Japanese official lead ingot price as an indicator. Lead scrap market might turn down.Lead settlement at London Metal Exchange was US$ 2,872.5 per tonne on 28 March, up by US$ 222.5 from the previous revision of Japanese official ingot price. However, a source of secondary lead smelter said they cannot purchase lead scrap in large lots when official lead ingot price is unforeseeable. On the other hand, lead scrap supply maintains tight and market price is surging for some items.