Lead premiums rise from one-year lows in India
Zinc premiums remain at 10-year low in Europe
US, China markets sluggish with participants absent for holidays
Indian lead premiums rise on stockpiling
The premium for 99.97% lead ingots rose in India on April 30, with market participants in the country taking advantage of the falling prices to stockpile material.
The premium rose to $50-70 per tonne cif India on Tuesday, up from the one-year low level of $35-60 per tonne between March 19 and April 23.
The London Metal Exchange daily unofficial three-month lead price toppled on May 1 to close at $1,860-1,862 per tonne, although by Tuesday’s close it had already gone down by 9.5% from a peak on February 28 of $2,170-2,172 per tonne.
The lower prices led to units being snapped up by Indian importers looking for material before the monsoon began.
“For now, demand is very good,” an importer...