Spot lead demand in Southeast Asia is still lackluster despite lockdown easing across Vietnam, Malaysia and Indonesia, while interest in spot zinc units was minimal in all regions, which left premiums unchanged in the week to Tuesday June 23.
A backlog of uncleared lead cargoes sit in Indian ports in the fourth week of June, a time that typically would have been a peak production period for battery production in China.Appetite for zinc and lead units is also low in the United States amid virus-hit business closures, with the North American division of trading house Traxys quitting the zinc and lead metal trading business.LME on-warrant zinc stock has risen by 37,825 tonnes so far this month.ILZSG pegs the refined zinc market in a 240,400-tonne surplus across the first four months of 2020South Asia lead premiums drop on unseasonably weak demandFastmarkets lead 99.97% ingot premium, cif India dropped to $50-100 per tonne on June 23, from $60-120 per tonne a fortnight earlier....