GLOBAL ZINC & LEAD WRAP: Uptick in Southeast Asian lead interest pushes premium up 4%

The Southeast Asian lead premium rose by 4.2% week on week on increased spot interest, with market participants suggesting an uptick in automotive sales as a key tailwind; meanwhile, global zinc premiums were unchanged amid stagnant spot demand and tight forward spreads.

Southeast Asian lead premium rises on renewed buyer interest  US, Asian zinc premiums flat on low spot interests  European premiums unchanged due to weakening spot appetite Southeast Asian lead premium up; Indian demand weak The Southeast Asian premium for secondary lead units widened upward this week on an increase in spot interest. Fastmarkets’ lead 99.97% ingot premium, cif Southeast Asia rose by 4.2% to $55-70 per tonne on Tuesday October 22, from $55-65 per tonne a week ago. Hundreds of tonnages were sold into Vietnam at premiums of above $60 per tonne on a promising outlook for local automakers. Vietnam's automobile sales grew by 18.4% year on year for the first nine months this year. But there was little spot interest in the Indian market this week after the London Metal Exchange price surged and because of soft sentiment in the auto sector there. The secondary lead 99.97% ingot premium, cif...

Published

Anna Xu

Julian Luk

Hassan Butt

Rijuta Dey Bera

October 23, 2019

16:42 GMT

Shanghai, London, New York