GLOBAL ZINC & LEAD WRAP: North Europe at 40-month high, bearish sentiment prevails elsewhere

Zinc premiums continued to increase in Antwerp and Rotterdam on Tuesday June 29 due to low supply but sources expect a downturn in August during the seasonally weaker period, while markets elsewhere were either stable or down during the week.

Northern Europe zinc premiums set 40-month high on persisting supply tightnessLead, zinc premiums steady in US despite low availabilityContango, faltering demand pressure premiums in Southeast AsiaChinese premiums down as import losses widenNorthern Europe premiums rise again, at highest in over three years
The ongoing tightness for promptly-delivered zinc SHG ingots in Northern Europe has pushed the upper end of Fastmarkets' premiums to their highest since February 2018.
Fastmarkets assessed 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, widening from $125-135 per tonne on June 22.
While larger parcels of material were reported to be sold at the lower end of the premium, smaller quantities could only be sold at the higher end of the range, sources told Fastmarkets.

"There is some tightness, but...

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