Zinc premiums in Northern Europe have risen with falling zinc prices, while spreads on the London Metal Exchange went into backwardation. Meanwhile, lead premiums were broadly flat with many market participants attending an industry conference.
Zinc premiums for Northern Europe rose slightly with summer holiday absences ending and prices on the LME declining An upward movement in Malaysia better reflected the price difference between markets Backwardation returned to the LME, with cash-three months zinc spreads trading at a backwardation of $10 per tonne in the morning of September 4, while LME on-warrant zinc stock dropped by 5,625 tonnes week-on-week Lead premiums were also generally flat this week with most market participants attending the Asian Battery Conference.Northern Europe zinc premiums nudge upwardZinc premiums in Northern Europe rose slightly in the week ended Wednesday September 4, with the seasonal summer lull in trading coming to an end and with deals reported at consistently higher values.Fastmarkets assessed the zinc SHG, min 99.995% ingot premium, dp fca Rotterdam, at $95-105 per tonne on September 3. The corresponding assessment for the zinc SHG, min 99.995% ingot premium, dp fca...