Buyers stand still amid high zinc spot premiums

SHANGHAI, Apr 19 (SMM) – As zinc spot premiums remained at high levels, downstream consumers took a watch-and-wait approach and held back from purchasing on Thursday April 19, SMM learned.

In the Shanghai spot market, most #0 zinc traded at 24,770-24,810 yuan/mt. The 0# common brands were offered at a premium of 230-270 yuan/mt against the SHFE 1805 contract, with 0# Shuangyan at a premium of 230-280 yuan/mt. Transactions were done at prices nearly unchanged from the offers. Most #1 zinc traded at 24,700-24,780 yuan/mt.

Some smelters saw better shipments. As long-term contracts between traders progressively get concluded, the premiums are likely to gradually fall.

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