Zinc flows into China late last week on good arbitrage gain; market quietens this week
- A favorable arbitrage gain attracted several thousands of tonnes of zinc into China last week
- China's zinc market quietens into this week ahead of the week-long national Golden Week holiday (October 1-8)
- Zinc’s high price on the London Metal Exchange deterred spot buying in Europe
- US lead and zinc demand is improving, though it was a quiet week for spot sales
- The US mating season for 2021 commences
Several thousands of tonnes of zinc were reported delivered into China last week when the arbitrage gain between the Shanghai Futures Exchange and London Metal Exchange reached around 100 yuan ($14.70) per tonne.
The import market quietened into the current week, however, with China’s National Day Golden Week holiday around the corner.
Fastmarkets’ assessment of the zinc SHG, min 99.995%, ingot premium, cif Shanghai...