US lead premiums climb again
- Northern European premiums stable despite demand concern
- Floods in Europe discourage local downstream consumers and US lead supply
- US lead up again on supply shortage, zinc holds
- Chinese market quiet during renewed power cut policy in Yunnan
Lead premiums in the United States rose on Tuesday July 20 for the second week in a row on the back of tight supply.
The 99.97% ingot premium, ddp Midwest US
rose to a new all-time high
of 15-18 cents per lb from 14.50-17.75 cents per lb.
“We scrambled to get lead last month,” one buyer said.
“I just think it’s a recognition of the state of the market. There’s a dire shortage of material, it’s a seller’s market,” a second buyer of rising premiums said.
Severe flooding in Europe cut the supply of lead to...