TThe weekly Davis Index for US zinc alloys was unchanged Tuesday after falling by more than 3¢/lb last week.
The index for Zamak #2 remained at $1.15/lb delivered US consumer and was flat at $1.12/lb delivered for Zamak #3, while Zamak #5 held at $1.13/lb delivered. The Davis Index for Zamak #7 was also flat at $1.12/lb delivered on Tuesday.
The Davis Index for zinc alloys remained unchanged in a quiet market with the index for ZA #8 flat at $1.17/lb delivered and ZA #12 and #27 flat at $1.19/lb delivered and $1.20/lb delivered, respectively.
Market participants expect downward pressure on zinc alloy prices amid an uncertain market, wherein prices have fallen since the beginning of the year because of COVID-19. Concerns are growing over macroeconomic trends pointing to decelerating business activity over the coming weeks.
The three-month official LME zinc contract slipped during the week to close at $1,892/mt on Tuesday, down from its previous close of $1,960/mt earlier this week.