US zinc alloys prices trended flat on Tuesday as participants took a pause to gauge the market amid diverging macroeconomic trends.
The market was quiet this week after two successive months of price increases as buyers and producers preferred to step back until the volatility in LME Zinc settles.
The official LME Zinc cash price settled Tuesday at $2,935.50/mt ($1.3315/lb), up $16.50/mt from last week.
The weekly Davis Index for Zamak #2 fell by 0.1¢/lb to $1.559/lb delivered US consumer. Zamak #5 moved down by the same amount to $1.537/lb delivered. Zamak #3 and #7, however, remained unchanged at $1.517/lb delivered.
Among the ZA grades, the Davis Index for ZA27 dropped by 0.7¢/lb to $1.659/lb delivered while both ZA8 and ZA 12 declined by 0.1¢/lb to $1.567/lb and $1.599/lb delivered, respectively.
Market trends are also keeping trades low as participants try to gauge price movements. The infrastructure bill is expected to be finalized this week and its passage may raise demand for base metals including zinc alloys in the near to medium-term. However, participants are concerned over the rising COVID-19 cases across the country and a potential lockdown, which could impact trade.