US zinc market uncertain amid rising warehouse stocks

A surge in warehousing stocks and freight costs has zinc users in the United States wondering where the market is headed - and how near-term premiums will be affected.

The US-delivered special-high-grade zinc premium remained at 8.25-9.25 cents per lb on Tuesday March 13, where it has stayed for the past month, according to American Metal Market's latest assessment.

As of Friday March 16, London Metal Exchange zinc stocks stood at 206,125 tonnes. That figure has increased by nearly 73,000 tonnes - or 54.4% - so far in March. LME zinc stocks had declined by more than 36,000 tonnes in the previous month, to 134,475 tonnes on February 28 from 170,700 tonnes February 1.
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Published

Dalton Barker

March 19, 2018

02:11 GMT

Chicago