US-Iran tensions yet to hit supply, premiums
- Potential disruption in Iranian lead supply is yet to be reflected in Indian and Southeast Asian premiums.
- Extended arb losses cap zinc trading interest in China.
- US premiums for zinc and lead remained flat in the first week of 2020 due to prevailing weak spot appetite in the New Year.
Lead premiums were flat week on week for both India and Southeast Asia due to minimal spot activity, while the potential disruption in Iranian supply that used to dominate these markets are yet to affect prices.
Fastmarkets assessed the lead 99.97% ingot premium, cif India
at $60-75 per tonne on Tuesday. Some assessments came in around $60 per tonne while some duty-free units were reported around $120 per tonne.
The lead 99.97% ingot premium, cif Southeast Asia
also remained flat week on week at $60-70 per tonne.