"There’s plenty of zinc, but the premium hasn’t fallen yet. I’ve gotten calls offering more zinc, but I’m not interested because I have long-term contracts," one buyer said.
"The premium is flat because there are a lot of sellers – more than I’ve seen in a while," a second buyer said.
Metal Bulletin sister publication AMM’s assessment of special-high-grade zinc premiums has remained at 8 to 9 cents per lb since March 19.
Market participants cited low steel production as a key factor contributing to oversupply in the special-high-grade spot market. US steel...