Zinc premiums jump in New Orleans
May 24, 2013 | 04:21 PM
| Barbara O'Donovan
NEW YORK Offers for special-high-grade (SHG) zinc in New Orleans have risen considerably in recent weeks, according to market participants.
Traders with metal on the ground in New Orleans are now offering premiums for SHG of between 6 and 7 cents per pound basis f.o.t., sources said.
"If someone comes to me looking for metal, Im offering 7 cents (per pound)," one trader told AMM.
The increase comes as zinc inventories in London Metal Exchange-approved warehouses in New Orleans continue to be tied up in lengthy queues and after Baar, Switzerland-based Glencore Xstrata Plc apparently signaled to its customers that it would have no spot availability from its Portovesme smelter in Italy until June at the earliest, the trader said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.