US lead, zinc premiums hold in illiquid market
- 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
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...