Premiums for “three-nines” lead ingots ticked up in Southeast Asia with spot material bid and offered in a higher range.
European lead premiums drop and firm in China on a nearly open import window.
Zinc market eyes potential opening of Chinese import arbitrage window.
Lead premiums edged up in Southeast Asia, warrants in demand
Metal Bulletin’s 99.97% purity lead ingot premium assessment moved up by $10 at the low end to a range to $60-80 per tonne on Tuesday. This puts premium levels in the region at their highest since July 2017.
Premiums firmed in part due to the continued thin availability of spot lead ingots from Iran, a key regional supplier.
Iran is in the midst of a currency crisis, with the rial losing 9.8% against the dollar in a day one month ago.
On Monday, Iran’s central bank moved to limit the amount of foreign currency...