ZINC & LEAD WRAP: Tight supply keeps most global zinc premiums stable; elevated freight costs support US lead premiums

摘要

Most special high-grade (SHG) zinc premiums were unchanged in the week to Tuesday November 13 despite the downward pressure stemming from limited spot demand and a wide backwardation in the London Metal Exchange’s cash/three-month spread, with lingering tightened spot availability providing support.In lead, premiums were steady across the globe this past week, with those in the United States buoyed by elevated freight costs.- Zinc market quiet after high LME price, wide backwardation and strong dollar limit spot demand.- European premium stable, reflecting small recovery from eight-year lows amid tightened supply.- Strong freight rates support US lead and zinc markets.- Wide backwardation stifles demand in China and Southeast Asia, leaving most premiums lower.