Analysis of Spot Zinc & Galvanized Coating Extras

With Nucor making a move and raising their coating extras, we decided to conduct a quick review of the LME spot zinc market going back to when the previous coating extra changes were made (prices were lowered) with the announcements being made just prior to January 2012.

First, we will take a look at the current zinc pricing situation. In late morning trading earlier today, LME zinc spot prices were $1.033 per pound which is actually the lowest level that the metal has seen over the past 30 days but still well above levels seen during calendar year 2013 and most of 2014 to date.