SMM, September 21:
Today, mainstream transaction prices for #0 zinc were concentrated at 26,775~26,945 yuan/mt. Shuangyan had no transactions, and mainstream transaction prices for #1 zinc were 26,705~26,875 yuan/mt. In the morning session, market quotes against the SMM average price were at a premium of 80 yuan/mt, with no quotes against futures. In the second trading session, ordinary domestic brands were quoted at a premium of 60 yuan/mt against the 2610 contract, silver was quoted at a premium of 70 yuan/mt against the 2610 contract, and the high-priced Shuangyan brand had no quotes against the 2610 contract. Today, the purchasing sentiment for refined zinc in the Shanghai region was 2.02, and the shipment sentiment was 2.58. In the morning, zinc prices on the futures market edged up, and downstream enterprises' fear of high prices resurfaced. Today, purchasing enthusiasm weakened, and overall spot transaction performance was mediocre. However, traders in the Shanghai market continued to hold firm quotes, and overall spot premiums showed no significant pullback.
![Tianjin Zinc: Zinc prices surge, fewer downstream inquiries [SMM Midday Commentary]](https://imgqn.smm.cn/usercenter/kdRPs20251217171754.jpg)
![Ningbo Zinc: Downstream Users Cautious at High Prices, Limited Inquiries, Spot Transactions Mostly Need-Based [SMM Midday Commentary]](https://imgqn.smm.cn/usercenter/EviJV20251217171754.jpg)
