Ample zinc availability in Singapore, Malaysia
- Fresh inflows of zinc ingots to LME's Port Klang sheds were recorded this week due to poor regional demand.
- Combined on-warrant stocks in Singapore and Malaysia currently make up over 40% of the LME's total zinc inventory.
- The import arbitrage window for Chinese zinc is closed, keeping spot premiums low, while zinc premiums are unchanged across Europe and the United States.
Zinc premiums in Singapore and Malaysia have dropped to their lowest level in a year
and stocks are beginning to pile up in the region due to demand still yet to return to pre-Covid19 levels.
Fastmarkets assessed the zinc SHG 99.995% ingot premium, fca Singapore at $85-95 per tonne on Tuesday, down from $90-100 per tonne one week ago...