GLOBAL ZINC & LEAD WRAP: zinc premiums flat; US lead hits new high

Global zinc premiums remained steady in the week to Tuesday July 20, while United States lead premiums surged on tight supply, sources told Fastmarkets.

Northern European premiums stable despite demand concernFloods in Europe discourage local downstream consumers and US lead supplyUS lead up again on supply shortage, zinc holdsChinese market quiet during renewed power cut policy in YunnanUS lead premiums climb again
Lead premiums in the United States rose on Tuesday July 20 for the second week in a row on the back of tight supply.
The 99.97% ingot premium, ddp Midwest US rose to a new all-time high of 15-18 cents per lb from 14.50-17.75 cents per lb.
"We scrambled to get lead last month," one buyer said.
"I just think it's a recognition of the state of the market. There's a dire shortage of material, it's a seller's market," a second buyer of rising premiums said.

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