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MetalBulletin reported that some European buyers have agreed to premiums of $155 to $165 for special, high-grade zinc supply in 2014. That’s $20 more than this year’s FCA Rotterdam premiums.
MetalBulletin reported that some European buyers have agreed to premiums of $155 to $165 for special, high-grade zinc supply in 2014. That’s $20 more than this year’s FCA Rotterdam premiums.
As quoted in the market news:
European zinc supply will open up next year as Glencore cedes marketing control of European commodity-grade zinc produced by Nyrstar, which will market the material jointly with Noble from January under a new three-year partnership.
Consumers had hoped that new competition in the European market, as well as potential changes to LME load-out rules, would lead to a reduction in spot and contract premiums next year.
Offsetting this, though, is a tightening balance in the metal market, driven by recovering global demand and increasing metal imports in China seen in recent months.
Click here to read the full MetalBulletin report.