U.S. Gulf: Vessels imported to the Gulf were expected to see pricing in the $35-$45/mt CFR range, unmoved from the prior report. Price ideas were based on Northwest European smelter netbacks quoted in the (-)$5-$5/mt FOB range.
In the domestic market, fundamentals were described as balanced-to-long. Delivered Midwest pricing was reported in the $80-$90/mt range, with Gulf rates in the $90-$95/mt DEL range. West Coast sales fell in the $95-$105/mt DEL range.
Observers put the Brazil acid market at $35-$45/mt CFR, and vessels to Chile ran $45-$60/mt CFR.
London Metal Exchange prices were mixed at the May 11 close. Lead and zinc were firm compared to the week before, but aluminum, copper, and nickel were down.
Aluminum closed at $1,560.00/mt, down from $1,611.00/mt a week earlier, and copper slipped to $4,748.00/mt from the previous week’s $4,892.00/mt. Lead values firmed to $1,784.50/mt from $1,765.50/mt, but nickel fell sharply, to $8,780.00/mt from $9,390.00/mt the week before. Zinc closed at $1,890.50/mt, up from $1,875.00/mt at last report.
U.S. Imports: March imports were down only 1 percent, to 320,672 st from the year-ago 322,985 st. July-March were up 6 percent, to 2.94 million st from 2.76 million st.
Thailand: Padaeng Industry (PDI), Southeast Asia’s sole zinc smelting operation, announced plans to cease operations at its 110,000 mt/y facility in 2017, according to reports.
Sources attributed the shutdown to the depletion of PDI’s Mae Sot mine, in operation since 1989, along with a failure to obtain permits for replacement mining operations in Thailand or neighboring countries.