The Weekly Davis Index for new zinc diecast was flat from last week, but there should be some downward pressure moving forward as the LME Zinc market loses strength.
The weekly Davis Index for new zinc diecast remained the same as last week at 78.7¢/lb delivered US consumer, while the index for zinc galvanizer bottom dross was flat at 75.2¢/lb delivered US consumer, and the zinc galvanizer top dross index was level at 71.3¢/lb delivered.
The special high-grade zinc premium was flat at 8.6¢/lb under the three-month LME contract, which surrendered most of its gain from last week, dropping to $2,409.50/mt from $2,514.50/mt on September 3.
The zinc market has benefitted from a weak US dollar in recent weeks and better demand in the global automotive sector. The market appears stalled for the time being, as the US dollar has strengthened over the last two days and political uncertainty has crept into the conversations on strategy.