High London Metal Exchange prices for zinc and lead have kept spot interest minimal for the sister metals in the week to Tuesday February 17.
The demand outlook for zinc remains good in the Americas, signaling outright metal prices will hold on to gains. But the strong prices for zinc and lead discouraged trading activity this week. India lead premiums diverged in the primary and secondary markets in the latest assessment. Indian lead premiums diverge
Fastmarkets' assessment of the
lead 99.97% ingots premium, cif India narrowed up to $60-70 per tonne on Tuesday, with purchases of Middle East secondary lead units seen at premiums in the $60s per tonne over past two weeks. It was $50-70 per tonne two weeks ago.
A lead trader attributed the slight increase in the secondary lead premium range to increased freight costs to India.
While the secondary lead premium edged up, the primary lead premium in India dropped on Tuesday, marking the first move in nearly a year.
Overall spot interest in primary lead, which...