GLOBAL ZINC & LEAD WRAP: Indian lead premium climbs to 2-month high; zinc premiums hold firm

The Indian lead premium surged to a two-month high this week while the three-month LME price struggles but global zinc premiums held firm despite softer forward spreads.

Indian secondary lead premium hits two-month high US lead premium flat; impact from Belledune smelter shutdown yet to emerge Taiwan 2020 long-term lead supply contract signed; spot premium unchanged European market steady despite softer price, spreads US, Shanghai zinc premiums flat in quiet market Indian secondary lead premium hits 2-month high while LME price sinks
The return of buyers to the Indian lead market while the LME three-month price was falling sharply caused the premium on 99.97% lead ingots to rise.
Fastmarkets assessed the lead 99.97% ingot premium, cif India at $60-75 per tonne, up significantly from last week's assessment of $30-50 per tonne - a level that had held throughout October and November.
The LME three-month lead price contract closed at $1,900 per tonne on Tuesday December 3, down 16% from the 16-month high of $2,262 per tonne set on October 29.

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