GLOBAL ZINC & LEAD WRAP: US zinc premiums at highest in a year; Europe premiums climb on firm demand

May 13, 2021 / www.metalbulletin.com / Article Link

Zinc premiums in the United States and Europe rose during the week to Tuesday May 11, with the import arbitrage loss keeping Chinese premiums stable. The surge of Covid-19 cases in India, meanwhile, has led to freight cost rises for imports into the country.

Fervent zinc demand has been noted in the US and northern Europe, leading to a rise in premiums in those regions. London Metal Exchange prices for lead and zinc remain elevated, with three-month zinc at $3,005 per tonne on May 12, its highest level since June 2018.LME lead's three-month price was most recently trading at $2,219.50 per tonne, its highest level since October 2019.
US zinc premium rises again; lead steady but possible cracks seen
Fastmarkets raised the spot premium for special high grade (SHG) zinc ingots in the United States this week on tight market conditions.
Fastmarkets' zinc SHG min 99.995% ingot premium, ddp Midwest US was assessed at 8.50-9.00 cents per lb on Tuesday, narrowing upward by 0.5 cents from 8.00-9.00 cents per lb previously.

"Spot requests from cold calls and former customers for SHG are increasing,...

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