GLOBAL ZINC & LEAD WRAP: Northern European zinc premiums soften; Asian markets flat

Zinc premiums in Northern Europe narrowed downward in the week to Tuesday July 2 amid more active spot trading over the period, while rates in the Southern European zinc market were unchanged.

Northern European zinc premiums narrow downward Cif Shanghai zinc premium flat in quiet market; domestic stocks decline Southeast Asian lead demand up amid a delayed production resumption at Nyrstar’s Port Pirie US zinc, lead markets stable ahead of national holiday on July 4 European zinc consumers searching for spot tonnages amid Nyrstar concerns More European zinc consumers are reported to be searching for spot tonnages, citing the limited operation of major producer Nyrstar due to financial concerns. ‘Some customers came to us and appeared to be quite desperate for prompt tonnages. They just wish to get zinc for summer production,’ a producer source said. Market participants are concerned whether production at Nyrstar, which smelts over a million tonnes of zinc every year, would be stable ahead of the company’s scheduled €340 million ($383.6 million) debt repayment in September this year. The world’s second-largest zinc producer is in the process...

Published

Anna Xu

Archie Hunter

Julian Luk

Orla O'Sullivan

July 03, 2019

10:53 GMT

Shanghai, London, New York