Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

US zinc scrap prices climbed on Thursday in tandem with rising LME Zinc prices and strong demand. 


The three-month official LME zinc contract increased during the week to close at $2,962.50/mt up by $44/mt from May 13. The LME zinc contract breached the $3,000/mt mark earlier this week to reach its highest point so far this year.


Steel and construction industries continue to increase their consumption of galvanized zinc. Still, the high prices witnessed over the past few weeks due to rising raw material costs and high LME Zinc levels have made buyers wary of purchasing too much too soon. 


The weekly Davis Index for zinc galvanizers bottom dross rose by 0.2¢/lb to 87.5¢/lb delivered US consumer while zinc galvanizers top dross increased by 0.1¢/lb to 87.8¢/lb delivered. 


New zinc diecast, which had fallen by 3¢/lb last week, recovered some of its losses on Thursday and increased by 2¢/lb to 87.5¢/lb delivered US consumer, while the Davis Index special high-grade zinc premium climbed by 0.1¢/lb to 8.2¢/lb delivered.


Offers for the zinc dross grades are being heard at as much as 90-92¢/lb amid strong order books. Scrap flows have improved to cater to the strong demand, with suppliers trying to offload as much material as they can before prices move downwards. 

Leave a Reply

Your email address will not be published.