GLOBAL ZINC & LEAD WRAP: Arbitrage window opens for Chinese zinc imports; US, Europe demand fragile [CORRECTED]

The import arbitrage window opened for zinc metal into China in the week ended Tuesday April 28 for the first time in over a year, prompting a flurry of activity, while a struggling US auto industry and poor end-user demand in Europe for zinc left premiums flat and caused an influx of material on exchange.

Thousands of tonnes of zinc traded this week following the opening of the import arbitrage.  US zinc demand continues to be affected by automaker closures and steel cutbacks, while sister metal lead premiums were unchanged.  LME lead stocks in Europe and Asia increased amid slack physical demand.  European demand remains fragile. Zinc arbitrage window opens
There was a flurry of zinc trades this week, with traders taking advantage of the import arbitrage window opening on April 23 after being firmly negative for 15 months close.
"Thousands of tonnes of refined zinc were transacted over the past a few days with duty-free cargoes closed at premiums in the mid-$90s [per tonne] and offers hiking up to $100-120 per tonne, while non duty-free tonnages were roughly $10 lower," a trader told Fastmarkets.
The trader secured refined zinc, both duty-free and non duty-free, in his reported price range.

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