European zinc consumers searching for spot tonnages amid Nyrstar concerns
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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...