GLOBAL ZINC & LEAD WRAP: Global premiums hold despite virus uncertainty

Global zinc and lead premiums held firm in the week to Tuesday March 17 following the dent to physical appetites stemming from the global spread of novel coronavirus (2019-nCoV) while Asian markets began a partial recovery.

  • Partial restarts in China enlivened spot demand for material, but this is yet to manifest in regional zinc and lead premiums.
  • Automaker shutdowns have dented US’ zinc and lead demand but premiums hold steady in the face of uncertainty.
  • European premiums continued to trade flat with already-illiquid markets yet to feel the pinch from operational closures.
US zinc, lead premiums steady amid growing market uncertainty
In the United States, spot premiums for zinc and lead remained stable week on week despite market participants’ concerns regarding the rapid spread of the novel coronavirus (2019-nCoV) in the country.
Fastmarkets assessed the zinc special high grade (SHG), min 99.995%, ingot premium, ddp Midwest US at $0.08-0.09 per lb on Tuesday March 17, flat since August 27, 2019.

“It’s still early, so hard to distinguish what effect, if any, the virus will have on zinc trade,” a zinc trader said. “I’m...

Published

Anna Xu

Archie Hunter

Amy Hinton

Rijuta Dey Bera

March 18, 2020

15:50 GMT

London, Shanghai, New York