Quieter market conditions in the United States ahead of Labor Day in early September caused the US zinc premium to fall on the top end of the range on Tuesday August 27, while increased demand for secondary lead due to the smelter shutdown at Port Pirie supported the secondary lead premium in Taiwan.
US zinc premium slightly down amid thin spot trades ahead of Labor Day holiday. European, Asian zinc premiums flat on low spot interests. Taiwan's secondary lead premium rose due to tight supply. Indian lead premium was unchanged amid a weak rupee and cheaper domestic substitutes. US zinc premium narrows in quiet spot market Fastmarkets assessed the zinc SHG (special high grade), min 99.995% ingot premium, ddp Midwest US at $0.08-0.09 per lb on Tuesday, narrowing downward from its previous range of $0.08-0.095 per lb with sources reporting steady business. Market participants expect spot trade to pick up after the US Labor Day, which falls on Monday September 2 this year, while a consumer source said business was "orderly" this week. Meanwhile, Shanghai zinc premiums were unchanged week on week amid a widened import loss for bringing refined zinc into China and a well-supplied domestic market. The zinc SHG min 99.995% ingot...