Indian secondary zinc market was quite during the week amid COVID-19 lockdown leading to high zinc ingot inventories despite a halt in production. The Davis index for secondary zinc ingots settled at Rs159,700/mt ($2,114.34/mt) ex-works Mumbai consumer, flat from the week prior. The index for secondary zinc ingots settled at Rs159,950/mt ex-works Delhi consumer, also flat in a quiet market.
Consumers of secondary zinc ingots are shut and there is no demand from downstream consumers as well. Ingot makers said that inventories were built well before the lockdown but production has now come to a standstill.
The weekly Davis index for galvanizer’s dross settled at Rs146,325/mt ex-works Mumbai producer, while the index settled at Rs150,783/mt ex-works Delhi producer down by Rs50/mt as no trades were reported. Galvanizer’s have shut shop and no dross is being produced at the moment.
The Davis Index for new zinc diecast settled at $1,456/mt cfr india port, down by $10/mt Monday from the week prior. Imports of new zinc diecast were halted from Iran, Russia, Korea and Japan said importers. Across India, there were no transactions or inquiries.
The Davis Index for Zamak #3 settled flat at Rs170,533/mt del India consumer and the index for Zamak #5 settled at Rs174,033/mt del India consumer, flat from the week prior.
The official three-month LME zinc contract settled at $1,862/mt on Friday from $1,891/mt, down by $29/mt in a week. Primary zinc manufacturers in India have announced temporary shutdowns to comply with the virus lockdowns. Die-casters and Zamak producers are also shut.
($1 = Rs75.53)