London Metal Exchange on-warrant zinc stock in Singapore sheds dropped by 6,900 tonnes from a week ago to 67,525 tonnes on November 24. Overall "live" stock is down by 7,550 tonnes in the past one week
Fastmarkets calculated the zinc import arbitrage at a loss of $63.81 per tonne on November 24.
The International Lead & Zinc Study Group (ILZSG) reported a 186,200-tonne surplus of refined lead for the first nine months of 2020.
US spot lead premium rises; zinc 2021 contract premiums hint decline.
In the United States, the premium for lead 99.97% ingots continued strengthening, increasing for the third time in the last two months due to strong demand, sources said.
Fastmarkets assessed the lead 99.97% ingot premium, ddp Midwest US at $0.095-0.1025 per lb on Tuesday November 24, narrowing upward from $0.0925-0.1025 per lb the week before.