Premiums for zinc in Rotterdam and Antwerp dropped to multi-year lows this week on feeble spot demand while lead premiums remained stable despite a production lull during the Islamic holy month of Ramadan in Muslim-majority countries.
The Rotterdam zinc premium dropped to its lowest in over 2.5 years on thin spot trade Import losses continued to narrow in China with participants looking to bring in ingots Lead production slowed in Muslim-majority countries, due to Ramadan, and in India Zinc premiums at multi-year lows in Rotterdam, Antwerp on thin spot trade Zinc premiums for Rotterdam dropped to its lowest since October 2015 in this week's pricing session on bleak spot demand. Premiums on an fca basis declined by $5 to $120-130 per tonne on Tuesday May 22, with offers above the $130s failing to find buyers in Rotterdam. "I didn't receive any inquiries in the past week, not to mention any sale," a Europe-based trader said. The premium for Antwerp also stood at $120-130 per tonne on an fca basis with the earlier delivery of over 60,000 tonnes remaining on-warrant in LME sheds. Supply remains ample...