GLOBAL ZINC & LEAD WRAP: Covid-19 case rise hits US lead demand; zinc premiums flat globally

A new wave of Covid-19 infections in the United States has left the production ramp-up in the automotive sector pending, resulting in low lead spot trades and flat premiums in the week to Tuesday June 30, while global zinc premiums were stable on slow demand.

  • Covid-19 cases increase in US leaving automotive production ramp-up pending and lead sales thin
  • US zinc premiums hold in illiquid market
  • Asian premiums unchanged on thin transactions
  • European premiums flat amid H2 contract negotiations
US lead, zinc premiums hold in illiquid market
The spot market for lead and zinc was even quieter than lately in the week in which the US observes the Independence Day holiday (on July 3 for July 4).
Both domestic lead premiums were unchanged for the eleventh consecutive week on Tuesday.
Fastmarkets assessed the lead 99.97% ingot premium, ddp Midwest US at 8-9 cents per lb on Tuesday, unchanged week on week, and the lead 99.99% ingot premium, delivered Midwest US at 10-12 cents per lb, also unchanged.

The sector, which is very reliant on lead acid batteries for cars, has seen few spot sales since the Covid-19 pandemic began pending a full resumption...

Published

Anna Xu

Orla O'Sullivan

Amy Hinton

July 01, 2020

13:59 GMT

London, Shanghai, New York