Market focus was drawn away from spot activity and toward next year's contractual supply premium discussions.
The International Lead & Zinc Study Group (ILZSG) says both the refined zinc and lead markets were in deficit for the first 10 months of 2019.
‘Negligible’ impact of US-China phase 1 deal on zinc trade
In the US, last week’s phase one trade deal that softens the trade war between the US and China failed to bolster spot trade of the galvanizing metal.
In the phase one agreement, the US suspended tariffs on $160 billion of Chinese imports that were set to take effect Sunday.
But market sources said the deal would have little effect on the zinc spot market.
“I would say the influence [of the trade deal] is negligible,” a zinc seller said.
A zinc consumer source said the trade deal will have an “indirect positive...