Zinc premiums made gains in the Taiwanese and Indian markets on Tuesday November 27 with residual supply not sufficient to appease demand. Lead markets are focused on annual contracts, with US spot market activity diminished for this reason.
Zinc premiums rise in Taiwan and India Annual zinc premiums start to settle lower in Europe Lead premiums flat on spot as market eyes annual contracts Taiwan zinc premium up on tight supply; lead premiums flat In Taiwan, the cif premium for special high grade (SHG) zinc rose to $165-170 per tonne on Tuesday from $140-155 in the prior week, in line with higher offers for 2019 long-term contracts. Tight supply in the spot market at year-end was also lending support for rising premiums. Premiums of $175 and $175-180 per tonne were offered for 2019 annual zinc contract from two major suppliers into the Taiwan market, around $10 higher than their 2018 contract levels, Fastmarkets MB has learned. "I raised offers to $165 per tonne and heard offers for top brand Australian cargoes at around $180. Spot supply is tight [in Taiwan] as suppliers are holding cargoes waiting for the...