Premiums for zinc continued to trade at high levels in Europe in the week ended Tuesday July 27, with demand still evident before the continent's August holiday period, while markets elsewhere continued unchanged.
Zinc premiums in Europe remain highUnusual August demand seen in ItalyChina premiums stable.
Northern Europe premiums steady at three-year highs
Zinc ingot premiums in Northern Europe were stable for a fourth week in a row on Tuesday, holding at their highest since February 2018.
Fastmarkets assessed both the
zinc SHG min 99.995% ingot premium, dp fca Antwerp, and the corresponding
zinc SHG min 99.995% ingot premium, dp fca Rotterdam, at $120-140 per tonne on Tuesday.
Most market participants reported deals within that range, with various sources saying that the recent floods in Germany and Belgium have had only a small effect on the transport of material around the continent.
"It's much easier to get those higher premiums now, reaching $140 per tonne, than it was two or three weeks ago," one trader said. "The main problem we have at the moment is the lack of capacity...