GLOBAL ZINC & LEAD WRAP: Taiwan zinc trading picks up; US lead premium remains at multi-yr high

Spot trading of zinc ingots in Taiwan was more active in the two weeks to Tuesday April 20, in contrast to other markets around the world where minimal activity kept premiums stable.

Both London Metal Exchange zinc and lead spreads were in contango.  LME's on-warrant lead stocks dropped by 5,125 tonnes from a week ago to 93,825 tonnes on Wednesday, while it was little changed in zinc.  US lead demand remains tight while premium unchanged at multi-year high level Taiwan zinc premium rises on freight costs; SEA in-whs zinc in demand
In Taiwan this week, spot market trading was relatively active compared with previous weeks. Fastmarkets assessed the zinc SHG 99.995% ingot premium, cif Taiwan up $10 per tonne on a fortnightly basis to $120-130 per tonne on Tuesday April 20.
"High freight costs are the main cause for the rise in premiums, there is no material to be found below $120 per tonne now," a Taiwanese trader said.

Meanwhile in Southeast Asia this week, trading in warehouses picked up a notch. Warehouse trading was active...

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