European zinc premium range narrows on slim trade
- Shanghai zinc premium unchanged amid persistent import arbitrage loss, low spot demand.
- European zinc demand depressed, linked to underperforming automotive sector.
- US zinc, lead premiums unchanged on scant spot activity.
Premiums paid for special high grade (SHG) zinc ingots in Europe were down against the week prior, with slack demand for ingots seen in the market.
Fastmarkets assessed the zinc SHG min 99.995% ingot premium, dp fca Antwerp
at $90-100 per tonne on Tuesday, narrowing downward by $5 per tonne from $90-105 per tonne in the prior week.
Zinc demand in the region is heavily linked to the fortunes of the automotive industry, which has struggled so far this year.
German auto-parts manufacturer Eisenmannn has filed for insolvency amid expectations of a 5% decline in global vehicle production this year.
Slack demand for spot zinc ingots comes despite zinc futures prices...