首页|Asian zinc premiums flat despite supply tightness in Japan
Asian zinc premiums flat despite supply tightness in Japan
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NSTL
Asian physical zinc premiums over the LME cash price were flat in the week ended Friday, and so far supply tightness in Japan hasn't resulted in any premium hikes. In Japan, weak demand and ample inventories at endusers' warehouses prevented domestic zinc prices from edging higher, while imports remained low with no spot transactions done, traders said. Mitsui Mining & Smelting Co., the country's biggest zinc producer, actually lowered its selling price by Y4,000 to Y132,000 a metric ton. Japan's domestic zinc prices are tied to LME zinc prices and the exchange rate of the dollar against the yen. "Supplies at trading companies and producers are very low and it would be difficult if customers want to buy (zinc metal) on a spot basis. But there has been no spot queries," a Tokyo-based trader said. Supply tightness in Japan resulted from producers cutting output in July and August by a combined 10,000 tons.
NSTL
