SHG premiums will trend up: zinc traders
Feb 28, 2013 | 04:48 PM
| Suzy Waite
Tags
zinc,
International Zinc Association conference,
Eastern Alloys,
Ryan Winter,
Macquarie Capital,
Duncan Hobbs,
LME,
warehouses
SHG premiums
CANCUN, Mexico — Some producers, die casters, galvanizers and traders who gathered at the International Zinc Association conference in Cancun this week remain hopeful of an uptick in special-high-grade zinc premiums.
AMM’s spot premiums for SHG zinc are between 7.5 and 8.5 cents per pounds. But in Cancun, traders and producers insisted that the low of 7.5 cents will soon be a thing of the past, as queues at London Metal Exchange-listed warehouses continue to cause a perceived tightness in U.S. zinc supply.
"I’d say 8 cents is the low end of the range. It can go up to 8.5 depending on where the customer is, if it’s a higher freight and if they’re looking for bigger tonnages," one trader told AMM. "The supply-side tightness is driving it." ....
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