Closed import arbitrage window into China dampened buying interests; Shanghai zinc premium is static
European zinc premiums stable amid dull demand in a market with a wide LME spread backwardation and high prices
Southeast Asia lead premiums soften as buyers hold firm
US zinc, lead premiums steady, but the markets are awaiting spring bloom
Shanghai zinc premium unmoved in a quiet market
The cif Shanghai zinc premium stood at $120-130 per tonne on Tuesday April 9, unchanged week-on-week, and the premium for bonded-warehouse zinc ingots was steady at $130-140.
With the Chinese domestic market well supplied, those wanting to import physical zinc ingots into China would incur a loss of $120.95 per tonne as of Monday April 8, due to the negative import arbitrage between China and outside markets, which has more than doubled since April 3 when it was $60.10 per tonne.
As of Tuesday April 9, when Fastmarkets premiums were...