Physical premiums for zinc and lead ingots were flat globally in the week to Tuesday April 27 after soaring outright prices for the sister metals limited appetite in all but the most tightly-supplied markets.
Higher offers for zinc ingot premiums reported in Europe Lack of import arbitrage limits China business US market expectations for more spot buying to come US zinc, lead demand firm
Fastmarkets assessed the spot premium for special high-grade (SHG) zinc ingots in the United States unchanged this week after falling last week, with little spot business reported amid relatively stable London Metal Exchange prices.
"The market continues to reflect the ongoing worldwide metal shortages and improving demand, but on a somewhat positive note, premiums in general seemingly have stabilized," one consumer said.
Fastmarkets assessed the
zinc SHG min 99.995% ingot premium, ddp Midwest US at 8.00-8.50 cents per lb on Tuesday, with one consumer seeing premiums more in the 7.50-8.00 cents per lb range because diecasters are "picking their spots" and being very conservative given high LME prices and slightly slowing demand.