US zinc secondary alloys prices slipped by 2-3¢/lb for the third consecutive week on Tuesday amid drops in the LME Zinc market, despite stable supply and demand in the market.
The official LME Zinc cash offers closed Tuesday at $1.2029/lb down from $1.2569/lb last week. The official three-month LME Zinc contract fell by $103/mt from last week, closing Tuesday at $2,675/mt from $2,778/mt on Jan 12.
The weekly Davis Index for Zamak #2 fell by 3.2¢/lb to $1.446/lb delivered US consumer. Zamak #5 fell by 3¢/lb to $1.432/lb delivered, while both Zamak #3 and Zamak #7 declined by 3.3¢/lb to $1.416/lb delivered on Tuesday.
The declines in ZA grades were lower than Zamak this week, with ZA 8 and ZA 12 falling by 3.2¢/lb to $1.466/lb delivered US consumer and $1.486/lb delivered, respectively. ZA 27 decreased, the least of all grades falling by 2.1¢/lb to $1.507/lb delivered.
The secondary zinc alloys market remains buoyant, though producers are keeping a close eye on the current political situation in the US, which is adding to the uncertainty in the LME Zinc market. Buyers, however, continue to purchase these alloys amid rising production in the automotive and manufacturing industries.