US lead demand softens, zinc spot business muted
- A 7.6% rebound in the London Metal Exchange lead price from a week ago has no impact on physical premiums so far with levels in US, India and Taiwan unchanged.
- Industrial activities have been massively scaled down due to efforts to contain the coronavirus,
- Italy, Europe's epicenter of the coronavirus, could extend its shutdown for another three weeks, keeping zinc buyers on the sidelines.
In the United States, end demand for lead has been hit by the Covid-19 outbreak in the country, and spot business in zinc remains quiet and market participants noted there have been no major disruptions for the galvanizing metal yet.
After a slew of automotive companies halted operations across the country, battery demand seems to have fallen, which has already been depressed due to a warmer than usual winter this year.
A lead producer said...