A steady uptick in the London Metal Exchange lead price prompted a move lower for Indian lead premiums in the week ended Tuesday September 17, while global zinc premiums held steady amid continued demand concerns in Europe, with strong production and tight spot availability doing little to move premiums in the United States and Shanghai.
Climbing LME lead price pressures Indian premiumsUS premiums for the sister metals steady week on weekZinc demand woes continue in EuropeZinc production ramp-up sparks Chinese market concerns Indian lead premium drops on higher LME price The premium for secondary lead ingots in India fell by $10 on the high end of the Fastmarkets range on Tuesday, caused by higher outright lead prices that discouraged spot market buying. Fastmarkets assessed the lead 99.97% ingot premium, cif India at $40-90 per tonne, narrowing downward from $40-100 per tonne the week prior. The LME three-month lead futures contract closed on Friday September 13 at a six-month high of $2,110 per tonne. The price retreated slightly to $2,056 per tonne on the close on Tuesday. The outright lead price has been supported by outages as Nyrstar's Port Pirie lead smelter in Australia, which caused the operator to declare...