US zinc scrap prices did not budge over the past week as smelter maintenance outages saw almost no new deals being made for scrap.
The official LME Zinc three-month price settled Thursday at $2,948/mt, up by $8/mt from Jul 8.
Both galvanizing grades trended flat, with zinc galvanizers bottom dross settled at 92.5¢/lb delivered US consumer and top dross also unchanged from last week at 98.2¢/lb delivered.
Price stagnation was caused by buyers being out of the market while furnaces are under repair and maintenance. However, once the month-long shutdown is over, demand for galvanizing grades and zinc oxide is expected to rebound, as smelters will be back in business.
New zinc diecast remained at 95¢/lb delivered US consumer, while the Davis Index special high-grade premium was flat at 8.5¢/lb delivered.