GLOBAL ZINC & LEAD WRAP: Lead demand up in South Asia; China market gathers arb momentum

Global zinc premiums were collectively flat in the week to Tuesday August 18, while an uptick in lead demand in Southeast Asia allowed spot interest to mount, albeit against climbing LME three-month prices for both commodities.

Catch-up demand boosts lead business in South Asia Higher offers heard in Shanghai on intermittent opening of arbitrage window; zinc premium holds The European summer slowdown is in effect amid little spot interestUnited States' lead, zinc premiums remained flat in quiet conditions Catch-up demand boosts lead business in South Asia
Lead premiums across South Asia were unchanged this week with demand beginning to pick up in India, sources said.
Fastmarkets' lead 99.97% ingot premium, cif India assessment was flat week on week at $50-100 per tonne on August 18, stable from a fortnight ago.
Ratings agency Fitch forecast a 20% decline in India's overall auto industry volumes during the financial year to June 2021, a trend which would negatively impact demand for lead.

"There's been a pickup in demand. All manufactures are pumping extra orders, but we don't know how long this will last," a trading source in...

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