Weekly US zinc scrap prices were rangebound as LME pricing moved higher through the week, only to lose most of its gains today.
The three-month official LME Zinc contract closed Thursday at $2608.50/mt, up by $4/mt from a week ago at $2604.50/mt.
The weekly Davis Index for new zinc diecast scrap increased slightly by 0.1¢/lb to 74.5¢/lb as supply and demand balanced each other out over the course of the week.
Both galvanizers dross grades were essentially flat from last week, with top dross indexing at 73¢/lb, unchanged, and bottom dross ticking down by 0.3¢/lb to 75.1/lb.
The index for special high-grade zinc premium was also flat at 8.5¢/lb under the three-month LME Zinc contract.
Demand for zinc is believed to grow as we move into 2021, with strong automotive demand predicted. Still, concerns with the record number of the COVID-19 virus cases have some feeling less optimistic than before.