Fastmarkets' zinc premium, dp fca Italy, rose in the week to Tuesday July 23 amid livelier spot activity following a recent zinc cash/three-month spread contango, while zinc and lead premiums in the rest of Nothern Europe, Asia and the United States were unchanged on weak demand.
The arbitrage for zinc continued to stay in negative territory throughout July, dampening spot trading interest in China London Metal Exchange zinc spreads remained relaxed on a single-digit contango following a year-long backwardation, yet the spot market has been inactive since the arrival of summer time with static premiums across different regional marketsItaly zinc premium increases while contango stimulates spot activity and Rotterdam and Antwerp trade flat on illiquidity Lead premiums in Taiwan and India stayed flat while the LME lead price rebounded to deter spot interest, while demand is also slow in the US lead marketItaly zinc premium up while contango stimulates spot activityThe Italy special high grade (SHG) zinc ingot premium, on a duty paid fca basis, rose on July 23 amid increased spot activity in the region, precipitated by the contango in the cash/three-month zinc spread, which was trading at $13 per tonne on...