Shanghai Zinc: Some suppliers raised their quotes, but transactions saw no significant improvement [SMM Midday Review]

SMM July 9th News: Today, mainstream transaction prices for #0 zinc were concentrated at 24,400~24,610 yuan/mt, Shuangyan traded mainly at 24,550~24,750 yuan/mt, and #1 zinc traded mainly at 24,330~24,540 yuan/mt. During the morning session, spot cargo was quoted at premiums of 10~20 yuan/mt against the SMM average price, with no quotes against futures yet. In the second trading session, ordinary domestic brands were quoted at discounts of 50~40 yuan/mt against the 2608 contract, silver was quoted at a discount of 30 yuan/mt against the 2608 contract, and the premium brand Shuangyan was quoted at a premium of 100 yuan/mt against the 2608 contract. Today, the purchasing sentiment for refined zinc in the Shanghai region was 1.96, and the shipment sentiment was 2.57. During the main morning trading session, zinc futures prices maintained a fluctuating trend. Downstream enterprises showed relatively weak performance in off-season orders. Overall inquiries and purchases today remained mediocre, but some suppliers in the market were reluctant to sell at low prices, leading to raised spot quotations.