GLOBAL ZINC & LEAD WRAP: Shanghai zinc premiums over $100/t; rest of world premiums flat [CORRECTED]

Shanghai zinc premiums were at their highest in almost two years due to a narrower arbitrage import loss in the week to Tuesday March 9, while premiums for zinc and lead across the other regions stayed largely flat from a week ago

Shanghai zinc premiums rise to highest since May 2019 amid narrower arbitrage loss.  Zinc premiums flat in South East Asia, with freight costs improving trade.  US lead premiums stable, supply tightness starts to alleviate.  LME three-month zinc price at $2,781.50 per tonne on Wednesday, down 2.4% from March 2.  LME three-month lead price at $1,967 per tonne on the same day, down 5% from last week. Shanghai zinc premiums at 21-month high
Spot zinc premiums rose in Shanghai after the narrowing arbitrage loss made trading acceptable for some Chinese market participants this week.
Fastmarkets assessed the zinc SHG min 99.995% ingot premium, cif Shanghai at $100-120 per tonne on March 9, versus $80-100 per tonne a week ago. It is now at the highest level since May 2019.

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