NEW YORK Long
queues at London Metal Exchange-listed warehouses have driven
zinc delivery premiums up despite available supply, according
to market sources.
delivered premiums for special-high-grade zinc widened to 8 to
10 cents per pound from 8 to 9 cents previously.
"Nine cents is the
bottom, up to 10.5 cents," a zinc producer source said, noting
that warehouse queues were making the metal difficult to
"The way its
slated you cant get to it until next year," said another
trader, who added that delivery premiums could be as high as 11
cents per pound, depending on the customer.
Stocks in U.S.
warehouses totaled 730,400 tonnes as of July 3, down 3.7
percent from 758,525 tonnes two weeks earlier.
Delivery premiums for
zinc alloys remained flat, with the highest being No. 27 zinc
alloy at 30 to 33 cents per pound.