The broad availability of zinc warrants across Europe meant that physical premiums in the region were stable in the week to Tuesday February 18, while a similar abundance of Middle Eastern supply kept Indian lead premiums flat.
Meanwhile, premiums in both the United States and China were steady over the week, with static demand limiting any changes in the latter, while the bulk of the US market was away from trading at the International Zinc Association's annual conference.
Strong availability caps European premiumsIndian spot premium for secondary lead widen downwardUS, China premiums unchangedAnnual benchmark negotiations on zinc concentrate TCs under way at conference in Arizona.
Steady availability caps European zinc premiums
In Europe, Fastmarkets assessed the
zinc SHG, min 99.995%, ingot premium, dp fca Rotterdam, at $85-95 per tonne on February 18, unchanged week on week.
The
zinc SHG, min 99.995% ingot premium, dp fca Antwerp, was also $85-95 per tonne on Tuesday.
Physical market participants dealing in special high-grade zinc ingots maintained that demand conditions across Europe remained poor, with spot market allocations reduced and buying appetite subdued.
This was...