GLOBAL ZINC & LEAD WRAP: Zinc, lead spot appetite weak globally on demand, supply woes

Spot appetite for zinc and lead were weak across different regional markets this week while respective lockdowns adversely affect industrial activities including steelmaking and battery manufacturing, sources said on Tuesday April 7.

  • Some zinc producers in Europe maintained operations to fill up on lost output from Latin America, while spot appetite for zinc ingots remained minimal
  • Two major battery makers in the US have cut production, which is weighing on spot demand for lead
  • High zinc inventory levels in China have kept importers away from buying overseas zinc ingots
European premiums steady with spot opportunities minimal
Premiums for special high grade (SHG) zinc ingot in Rotterdam and Antwerp held steady on April 7, reflecting a broadly subdued demand picture across the continent, while efforts to contain the spread of Covid-19 in Europe kept Italian zinc business minimal.
Fastmarkets’ assessment of the zinc SHG, min 99.995% ingot premium, dp fca Rotterdam was $85-95 per tonne on Tuesday, while Fastmarkets’ zinc SHG 99.995% ingot premium, dp fca Antwerp was assessed at parity at $85-95 per tonne on the same date.

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Published

Anna Xu

Julian Luk

Hassan Butt

Rijuta Dey Bera

April 08, 2020

15:00 GMT

London, Shanghai, New York