Chinese zinc premiums fell 17% week-over-week to a November 2016 ended Tuesday September 11 following a large amount of inventory flowed to China due to an open arbitrage window.
Chinese zinc premiums fell 17% in the week ended Tuesday September 11 following a large amount of inventory flowing to China due to an open arbitrage window.In Europe and the United States, premiums were unchanged because market participants were awaiting the start of the negotiation season. Chinese zinc premiums hit a low since November 2016. Europe, US markets for lead and zinc were unchanged. Market participants preparing for annual mating season.Chinese zinc premiums dropped amid wide availabilityZinc ingot premiums declined this week in Shanghai following a large quantity of inventory flowing to China from the bonded zone after the arbitrage window opened.Metal Bulletin assessed zinc premiums cif Shanghai at $150-165 per tonne on Tuesday, retreating from last week's $180-200 per tonne, the highest since December 2013.Meanwhile, bonded-warehouse material also slipped to $180-190 per tonne from last week's $190-210 per tonne.Following a big import profit and low inventory in Shanghai Futures...