The premium for special high grade (SHG) zinc ingots in northern Europe has rebounded from an eight-year low this week on reduced warehouse stocks, while secondary lead premiums dropped in India and Southeast Asia after more units were available due to the absence from the market of a large commodity house.
European zinc premium rises from 8-year low. Long term zinc and lead contract talks in China started at a conference in Shaanxi province last week. Secondary lead premiums drop in India, Southeast Asia on higher availability.US zinc market participants preparing for higher premiums. European zinc premiums recover The premium for SHG zinc ingots in northern Europe rose on Tuesday November 6 from an eight-year low reached last week, firming to $118-125 per tonne duty-paid, fca in Antwerp. Spot transactions reflected a small increase in premiums paid, with market participants noting a drop in warehouse availability. Just 200 tonnes of zinc are on-warrant in London Metal Exchange warehouses in Antwerp, with 100 tonnes in Rotterdam and the remaining 300 tonnes of available material in Europe in Bilboa. Some 17,800 tonnes are canceled in Antwerp, down from 27,975 tonnes on October 31. Market participants told Fastmarkets they do...