Last week, the Shanghai premiums have been continuously decreasing. As of last Friday, domestic ordinary brands were offering premiums of 120-140 yuan/mt over the 2308 contract, with an average discount of 10-20 yuan/mt. The premium for high-end brand Shuangyan was around 300-320 yuan/mt over the 2308 contract.
The import zinc ingot premiums continued to decline to a range of 0-20 yuan/mt over the 2308 contract. The decrease in premiums last week was mainly due to the impact of low-priced imported zinc ingots, increased preference for imported zinc by downstream enterprises, lackluster downstream consumption, and slow domestic zinc ingot shipments.
It is expected that the premiums will continue to decrease this week.
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