European zinc premiums tick higher on hand-to-mouth purchases
Freight, weather issues push up US zinc premium
Limited activity ahead of holiday keeps most Asian lead, zinc premiums flat
Lead premiums in other regions unchanged
European, US zinc premiums rise; Asian markets slow ahead of holiday
Zinc premiums in Europe ticked higher this past week after further hand-to-mouth purchases were heard to have settled at higher levels.
Duty-paid premiums for Rotterdam and Antwerp on a free carrier (fca) basis both rose to $135-145 per tonne on Tuesday February 13, compared with $135-140 per tonne a week ago. The range widened on multiple truckloads delivered to Belgium, France and the United Kingdom with premiums in the mid $140s reported.
“With the high price and backwardation [in London Metal Exchange spreads], buyers only came to us at the last minute,” a producer source in Europe told Metal Bulletin, explaining the higher premiums for these deliveries.