European premiums steady with spot opportunities minimal
- 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
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.