Union workers at the facility, which is operated by Canadian Electrolytic Zinc (CEZinc), voted in favor of a new collective agreement
on Saturday November 25.
Downward pressure on the premium is unlikely, even with NIF’s facility ramping back up, one trader said, arguing that the main reason premiums have risen since the start of the year is because “stocks were being depleted globally.” And NIF only produces “a small amount” globally, he noted.
The US-delivered zinc premium
currently stands at 8-9 cents per lb, up from 6-6.5 cents per lb at the start of the year.
Indeed, reported zinc inventories have recently...