GLOBAL ZINC & LEAD WRAP: US spot lead premiums up; fall in India; Europe zinc stabilizes

Spot lead premiums rose in the United States this week while lead premiums are coming under pressure in India following a surge in the commodity price, sources told Fastmarkets on Tuesday November 24.

London Metal Exchange on-warrant zinc stock in Singapore sheds dropped by 6,900 tonnes from a week ago to 67,525 tonnes on November 24. Overall "live" stock is down by 7,550 tonnes in the past one week Fastmarkets calculated the zinc import arbitrage at a loss of $63.81 per tonne on November 24. The International Lead & Zinc Study Group (ILZSG) reported a 186,200-tonne surplus of refined lead for the first nine months of 2020. US spot lead premium rises; zinc 2021 contract premiums hint decline. In the United States, the premium for lead 99.97% ingots continued strengthening, increasing for the third time in the last two months due to strong demand, sources said. Fastmarkets assessed the lead 99.97% ingot premium, ddp Midwest US at $0.095-0.1025 per lb on Tuesday November 24, narrowing upward from $0.0925-0.1025 per lb the week before.
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Published

Julian Luk

Rijuta Dey Bera

Ana de Liz

November 25, 2020

12:50 GMT

New York, Hong Kong, London