GLOBAL ZINC & LEAD WRAP: European zinc premiums rise; US lead, zinc terms flat

Zinc premiums in Europe rose in the week to Tuesday March 2, with sellers taking advantage of a contango in the London Metal Exchange cash/three-month spread and restricted availability of the galvanizing metal.

US lead premium holds near eight-year highHigh freight costs pressure US zinc premiumPreliminary ILZSG estimates put the refined lead market in a 223,100-tonne surplus in 2020Fastmarkets analysts posit the 2021 refined lead surplus at 80,000 tonnesLME three-month lead price closes at $2,086.50 per tonne on TuesdayLME three-month zinc price closes at $2,835 per tonne on the same day
Zinc premiums widen in Northern Europe, edge up in Italy
The special high grade (SHG) zinc premium in Northern Europe widened on Tuesday, reflecting deals heard above and below last week's premium range of $95-105 per tonne, which had been in place since January 12.
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 $93-107 per tonne on Tuesday.

Fastmarkets' assessment of...

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