Shanghai Zinc Market: Increased Purchases by Traders, Premiums Recovered from Lows

Today, the mainstream transaction prices of 0# zinc were concentrated at 24,160~24,360 yuan/mt, with Shuangyan trading at 24,330~24,520 yuan/mt, and the mainstream transaction prices of 1# zinc were at 24,090~24,290 yuan/mt. In the early trading session, the market quoted premiums of around 5~10 yuan/mt over the average SMM zinc price, with ordinary brands at a discount of 100~110 yuan/mt against June contract and almost no transactions; in the second trading session, ordinary domestic quotes were at a discount of 90~100 yuan/mt against the 2406 contract, while high-priced Shuangyan brands were at a premium of around 70 yuan/mt to the 2406 contract. Downstream enterprises mainly purchased on demand, but trading among traders was quite active. Market purchases increased significantly, leading to a recovery in premiums.