There were significant tonnages of zinc delivered into London Metal Exchange European warehouses in the week to Tuesday June 9 amid sluggish regional spot demand, while US metal suppliers are hopeful restarts at automakers will mean more zinc and lead consumption.
Fresh inflows of more than 23,000 tonnes prompt questions around European demand. Restart of US auto sector brought hopes of a zinc and lead demand recovery. India's biggest lead importer Exide Industries has ended its force majeure but it is too early to see any change in spot lead demand. Zinc arbitrage window remained closed, discouraging import interest from China. Sizable LME zinc inflow hints at poor spot demandMore than 23,000 tonnes of zinc ingots have been delivered into LME-registered warehouses in Baltimore, Bilbao, New Orleans, Port Klang and Singapore, with total LME on-warrant material now at...