Indian lead premium firmer
- Increased demand for industrial production boosts Indian lead premium
- US zinc and lead premiums unmoved despite improved spot appetite
- European zinc premiums fail to rise despite expectation of wider cash/three-month contango on London Metal Exchange.
The secondary lead premium in India was boosted by calls for increased industrial production in the region in the week to Tuesday, while Middle Eastern supply remained minimal, keeping premiums there flat.
Fastmarkets assessed the lead 99.97% ingot premium, cif India
, at $100-115 per tonne on October 27, compared with $95-115 per tonne two weeks earlier.
African and European units were priced at more than $100 per tonne while duty-free units were nearly $120 per tonne.
Indian importers were wary of stricter requirements for...