Indian lead premiums tack higher
- The Indian lead premium rose amid an open import arbitrage
- Southeast Asia zinc premium rose on pick-up in spot trading.
- Italian premium edges higher on improved liquidity.
- US, Shanghai zinc premiums stable amid low buying appetite.
Fastmarkets’ lead 99.97% ingot premium, cif India
rose to $80-100 per tonne over the London Metal Exchange price, the highest since September last year.
The Indian premium rose after an import arbitrage opened. With lead more difficult to get out of Iran and low lead prices restricting availability of scrap - since scrap holders are unwilling to sell at low prices - most business being done is for duty-free brands.
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