Indian zinc premium at 19-month high; Chinese lead premiums fall on supply uptick

(MB) Indian zinc premiums rise on domestic material shortage; Southeast Asian premiums depressed by widening backwardation in spreads  Lead premiums in India, which used to be dominated by low-priced Iranian units, also rose following inflows of more expensive Korean ingots  Chinese lead premiums declined on wide availability of stocks after many smelters resumed production lines; arbitrage window stays open in China Indian zinc premiums at 19-month high Metal Bulletin’s zinc premium cif India on a duty-paid basis rose this week on domestic production slowdowns and increasing buying interest following a price drop in the galvanizing metal. Premiums for zinc on a duty-paid cif India basis surged to $220-240 per tonne on Tuesday, the highest since January 2017. That compares to the $210 –230 per tonne a week ago. A producer source said domestic zinc production has been limited by heavy monsoons and subsequent flooding,