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MGIC INVESTMENT CORP - 10-K - Management s Discussion and Analysis of Financial Condition and Results of Operations

As used below, "we" and "our" refer to MGIC Investment Corporation's consolidated operations or to MGIC Investment Corporation, as a separate entity, as the context requires. References to "we" and "our" in the context of debt obligations refer to MGIC Investment Corporation. The following is a discussion and analysis of the financial conditions and results of.

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Annual zinc premiums for Europe fall on wavering demand, weaker dollar

Annual zinc premiums for Europe fall on wavering demand, weaker dollar Annual zinc ingot supply contracts in Northern Europe and Italy have been negotiated for 2021 at markedly lower premiums than in previous years. Deals for 2021 contracts have been reached with premiums on a duty-paid fca basis via Antwerp and Rotterdam at $95-110 per tonne level, sources told Fastmarkets, while some market participants said that anything above $105 per tonne was “unachievable” during negotiations. Premiums have been dropping steadily since 2018. In 2020, annual contract terms were agreed with premiums at $115-120 per tonne, down from the previous year when they had been agreed upward of $130 in Northern Europe. Before that, levels over $140 per tonne were commonplace.

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