Climbing LME lead price pressures Indian premiums
US premiums for the sister metals steady week on week
Zinc demand woes continue in Europe
Zinc production ramp-up sparks Chinese market concerns
Indian lead premium drops on higher LME price
The premium for secondary lead ingots in India fell by $10 on the high end of the Fastmarkets range on Tuesday, caused by higher outright lead prices that discouraged spot market buying.
Fastmarkets assessed the lead 99.97% ingot premium, cif India at $40-90 per tonne, narrowing downward from $40-100 per tonne the week prior.
The LME three-month lead futures contract closed on Friday September 13 at a six-month high of $2,110 per tonne. The price retreated slightly to $2,056 per tonne on the close on Tuesday.
The outright lead price has been supported by outages as Nyrstar’s Port Pirie lead smelter in Australia, which caused the operator to declare...