Meanwhile, lead premiums in India softened, which reflects buyers bidding below the previous range.
China zinc premium declines; annual contract negotiations continue in Europe
- Both markets busy with annual contract negotiations
- Closed import window forces Chinese zinc premiums lower
- Lead premium in China tumbles after buyers lower bids
In China, zinc premiums fell slightly this week, which is reflected in a closed arbitrage window - losses incurred on imports into China widened to around $70 per tonne on November 20.
and cif Shanghai
premiums stood at $150-160 per tonne and $140-150 per tonne respectively, both down $5 per tonne from last week.
European premiums for spot zinc ingots in Rotterdam and Antwerp remain in tight ranges of $135-140 per tonne, capped at the low end by the backwardated forward curve on...