GLOBAL ZINC & LEAD WRAP: Southeast Asian lead premium notches five-month high; contractual tonnage heads to China

Global zinc premiums were flat in the week to Tuesday August 4 amid an influx of tonnage into Asia spurred by a flurry of contractual demand, while European markets continued to prepare for summer maintenance closures. And while the US lead market was broadly static, Southeast Asian lead premiums climbed for the first time in five months.

  • Bullion and pure lead demand improves in Asia
  • European availability remains high
  • US contractual demand remains solid, but spot market falters 
Southeast Asia lead premiums up first time in five months
Lead premiums for Southeast Asia rose for the first time in five months as spot appetite returned with improved industrial demand.  
Fastmarkets’ assessment for the lead 99.97% ingot premium, cif Southeast Asia jumped to $70-85 per tonne on Tuesday from $50-70 per tonne previously, with tonnages sold to Vietnam and inquiries from Malaysia seen within that range over the past two weeks.
Fastmarkets’ assessment for the lead 99.99% ingot premium, cif Southeast Asia also went up by $5 to $125-145 per tonne, with more market activity reported in $130s range.
Major Indian battery manufacturers have continued operation despite surging new cases of Covid-19, industry sources said.

Demand for lead bullion and...

Published

Anna Xu

Julian Luk

Hassan Butt

Orla O'Sullivan

August 06, 2020

04:10 GMT

London, New York, Shanghai