GLOBAL ZINC & LEAD WRAP: Global markets quiet amid surge in LME prices

Zinc and lead premiums in all regions were unchanged over the past week while Chinese participants were sidelined due to the Lunar New Year (February 4-10).

European zinc premium market stable.  US lead and zinc markets unchanged despite strong demand.  India lead premiums flat amid weak spot market activity. European zinc premiums stable, no delivery seen despite big cancelations European zinc premiums were stable this week on a limited spot interest following a price rally in the London Metal Exchange outright price. The LME three-month zinc price closed at above $2,800 per tonne on Monday February 4, the highest since July 2018, and was trading at above $2,740 per tonne on Tuesday February 5. Spot buyers are not eager to load up on the galvanizing metal at a high price level, a trader said. The recently canceled zinc stock on LME sheds have also not left the warehouses, indicating weak physical demand. As of Tuesday, canceled zinc...

Published

Archie Hunter

Dalton Barker

Julian Luk

February 06, 2019

16:26 GMT

Chicago, London