Northern Europe premiums hold despite weaker summer period
- Premiums steady in Europe amid contango
- US Midwest premiums stable; freight pressuring lead upward
- Chinese premiums unchanged on thin trading amid widening arbitrage loss
Zinc special high-grade (SHG) ingots in Northern Europe held at the highest levels since February 2018 for the fifth running week on Tuesday.
Fastmarkets assessed the zinc SHG min 99.995% ingot premium, dp fca Antwerp
and the zinc SHG min 99.995% ingot premium, dp fca Rotterdam
at $120-140 per tonne on Tuesday, both stable since June 29.
One market source noted that “things are not too exciting, since we’re still in a holiday period,” and that he did not expect a change in premiums or market conditions in the coming weeks, noting that “zinc price levels are not helping to make things attractive, either.”
The LME three-month daily official price was at $3,047.50 per tonne...