Zinc premiums in Shanghai dropped slightly on softening spot demand while stocks held in Shanghai Futures Exchange-listed warehouses continued to build, whereas lead premiums retreated in Indian and Southeast Asian markets and rose in Europe.
Shanghai zinc premiums declined amid weak spot demand US zinc premiums were flat over the past week, while warehousing stocks declined. Lead premiums fell in Indian and Southeast Asian markets, while the Rotterdam premium edged up. Shanghai zinc premium down amid weak spot demand; SE Asia, Europe stable The in-warehouse Shanghai premium dropped to $120-135 per tonne on Tuesday March 27, down $5 on the high end of the range, while the cif Shanghai premium fell by $5 on both ends of the range to $110-125 per tonne. Traders attributed the fall in premiums to weak spot demand. "The market is really quiet in the first quarter, we need higher demand to help support the price," a Shanghai trader told Metal Bulletin. Meanwhile, China imported 37,710 tonnes of refined zinc in February, up 151.2% on a yearly basis. And zinc stocks on the SHFE rose 1,799 tonnes week on week to...