Secondary lead premiums dipped in the Indian market in the week ended Tuesday August 6, on a decline in the value of the rupee and a rebound in the price of lead, while zinc premiums edged higher in Northern Europe.
Rupee depreciation, lead price rebound weigh on spot demand in India for secondary leadNorthern European premiums higher on easing spreadsShanghai zinc premiums remain low due to persistent import arbitrage loss; premiums unchanged in Southeast Asia on quiet marketZinc premium in US flat, demand still strong. Falling rupee weighs on secondary leadThe falling value of the rupee and a rebound in the price of lead have weighed on spot demand for secondary lead among Indian buyers this week.The lead 99.97% ingot premium, cif India, widened downward on August 6 to $50-130 per tonne, compared with $70-130 per tonne last week.Inquiries for small parcels of duty-unpaid units were heard this week in the range of $50-60 per tonne, while overall demand was soft. The price for duty-paid units continue to be close to $130 per tonne.The rupee was trading at 71.01 rupees to $1 on...