Zinc premiums in the United States widened upward in the week to Tuesday August 20 despite dampened consumption from steel mills, while lead premiums drop in India and Southeast Asia, unaffected by Nystar Port Pirie outage.
US zinc premium widens upward, pushed higher by smaller spot tonnages traded at higher levelsSoutheast Asia lead premiums drop despite increased spot demand amid Nyrstar Port Pirie outageEuropean, Shanghai zinc premiums flat on low spot demand, illiquidity US zinc premium widens upward despite steel mills cutting volumesThe premium for special high grade (SHG) zinc ingots widened on Tuesday August 20, with some market participants consistently reporting small-volume transactions concluded at the higher end of the range. Fastmarkets assessed the zinc SHG, min 99.995% ingot premium, ddp Midwest US at $0.08-0.095 per lb on August 20, widening upward from its previous range of $0.08-0.09 per lb the week before. Low LME stocks and the zinc supply deficit in the US also supported the zinc premium. LME zinc stocks have been on a steady downtrend since mid-May - falling by 31.9% to 71,775 tonnes on August 19 from...