Southeast Asian zinc premiums up on higher deals
- US zinc and lead premiums hold with slump in London Metal Exchange lead, while zinc futures fail to incite spot consumption
- The LME lead price dive incites buying in India but fails to manifest in premiums, which remain flat
- The shrinking LME cash/three-month zinc backwardation failed to spur spot consumption in the European zinc market
- China remains away from the market for Lunar New Year, but the impact of coronavirus uncertainty on regional premiums is yet to be discerned
Fastmarkets’ assessment of zinc special high grade (SHG) min 99.995% ingot premium, cif Southeast Asia
moved up by $5 at the top end to $120-135 per tonne on Tuesday January 28, from $120-130 per tonne on January 14.
Deals were reported for top-brand ingots, Fastmarkets heard.
“We definitely see some interest with the lack of warrants out there,” one...