GLOBAL ZINC & LEAD WRAP: Premiums in Europe rise, narrow in US following lower LME price

The falling London Metal Exchange zinc price boosted spot demand for zinc ingot in both Europe and the United States in the week to Tuesday April 13, while lead premiums in Southeast Asia were up on recovering demand.

  • The LME three-month zinc price fell to $2,758 per tonne on Monday at the close, renewing interest for spot demand. 
  • Zinc demand remains strong in the US despite automotive output cut. 
  • Shanghai zinc premium steady on larger arbitrage losses over March. 
  • Improved Southeast Asian demand boosts secondary lead premium. 
  • Indian lead premiums steady at the start of Ramadan.
Premiums in Europe rise for first time since March
Spot premiums for special high grade (SHG) zinc ingots in Northern Europe rose for the first time since March 9 on Tuesday. Fastmarkets assessed the zinc SHG, min 99.995% ingot premium, dp fca Antwerp and the zinc SHG 99.995% ingot premium, dp fca Rotterdam at $100-108 per tonne, both up from $95-107 per tonne.

Market participants in the area noted "a bit more activity since the price came off" at the start of the...

Published

Julian Luk

Rijuta Dey Bera

Ana de Liz

Yiwen Ju

April 14, 2021

11:24 GMT

London, New York, Shanghai