Zinc and lead premiums were unchanged this week, despite a consolidating London Metal Exchange zinc price and with consumers, for the most part, anticipating cheaper buying levels in the coming weeks.
European, US and Asia zinc premiums stable after backwardation narrows Price drop on LME, COMEX, SHFE yet to trigger consumer buying on zinc Additional orders for lead ingotsEuropean zinc premiums remained stable this week on lackluster interest due to buyers anticipating further drops in the zinc price while it consolidates at ten-year-high levels following strong gains in 2017. Spot premiums for special high grade zinc, fca Rotterdam and 99.995% purity zinc, on a duty-paid fca basis to Antwerp, both remain unchanged at $125-135 per tonne this week with several hundred tonnes reported to be sold within the range.The LME three-month zinc price has dropped 1.5% since the beginning of this year to close at $3,295.50 per tonne on Tuesday March 13, after it registered a 29.1% rally last year. "Buyers are waiting to see if prices will retreat, so there is not much spot buying at the moment. We only...