Shanghai Zinc: Some Traders Held Prices Firm, Premiums Remained Volatile [SMM Midday Review]

Published: Jul 3, 2024 13:59
Source: SMM
Today, the mainstream transaction prices for 0# zinc were concentrated between 24,290-24,480 yuan/mt, Shuangyan brand zinc was traded at 24,520-24,720 yuan/mt, and the mainstream transaction prices for 1# zinc were between 24,220-24,410 yuan/mt.

Today, the mainstream transaction prices for 0# zinc were concentrated between 24,290-24,480 yuan/mt, Shuangyan brand zinc was traded at 24,520-24,720 yuan/mt, and the mainstream transaction prices for 1# zinc were between 24,220-24,410 yuan/mt. In the early session, the average market price was at a small premium, but due to poor transactions, the average price fell to a discount of 0-5 yuan/mt. In the second trading session, the offers of ordinary domestic brands continued to be at a discount of around 90-100 yuan/mt against the 2408 contract, while the high-priced Shuangyan brand was at a premium of around 130-150 yuan/mt over the 2408 contract. Today, the quotes were made based on the 2408 contract instead. The market saw limited spot supply and expectations of reduced production. Some traders held prices firm, but transactions remained low at high prices. The overall premiums remained volatile.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn
For more information on how to access our research reports, please contact:service.en@smm.cn
Related News
South32 Raises Hermosa Taylor Capex by Over 50%, Delays Production to 2028 H1
May 1, 2026 21:22
South32 Raises Hermosa Taylor Capex by Over 50%, Delays Production to 2028 H1
Read More
South32 Raises Hermosa Taylor Capex by Over 50%, Delays Production to 2028 H1
South32 Raises Hermosa Taylor Capex by Over 50%, Delays Production to 2028 H1
On April 30th, South32 raised the development cost estimate for the Taylor deposit at its Hermosa zinc-silver project in Arizona, US, and delayed the timeline. First-stage capital expenditure has increased by more than 50%, from $2.2 billion in the 2024 FS to $3.3 billion. First production has been delayed by one year to H2 FY2028, full production has also been pushed back to FY2031. Cost increase was mainly due to contractor underperformance, slower-than-expected construction productivity, scope changes, inflation, US tariffs and higher input costs. Progress on a key ventilation shaft is the main bottleneck now. But the company also noted that ore reserves at Taylor increased by 52%, mineral resources rose by 10%, extending the expected mine life from 28 years to around 33 years.
May 1, 2026 21:22
Monthly Production Declined: Refined Zinc Faces Dual Pressure from Raw Material Supply and Costs [SMM Analysis]
Apr 30, 2026 19:11
Monthly Production Declined: Refined Zinc Faces Dual Pressure from Raw Material Supply and Costs [SMM Analysis]
Read More
Monthly Production Declined: Refined Zinc Faces Dual Pressure from Raw Material Supply and Costs [SMM Analysis]
Monthly Production Declined: Refined Zinc Faces Dual Pressure from Raw Material Supply and Costs [SMM Analysis]
[Monthly Production Declined: Refined Zinc Faces Dual Pressure from Raw Material Supply and Costs] Overall, refined zinc production release in April and May fell short of expectations, mainly because as ex-China mine disruptions increased and China's ore recovery remained limited, TCs accelerated downward. Imported TCs have already dropped to $39.25/dmt, while China's weekly TCs broke below historical lows to 850 yuan/mt in metal content...
Apr 30, 2026 19:11
Tibet Huayu Reports 2025 Annual Growth in Zinc and Lead-Antimony, Decline in Gold Production
Apr 30, 2026 17:15
Tibet Huayu Reports 2025 Annual Growth in Zinc and Lead-Antimony, Decline in Gold Production
Read More
Tibet Huayu Reports 2025 Annual Growth in Zinc and Lead-Antimony, Decline in Gold Production
Tibet Huayu Reports 2025 Annual Growth in Zinc and Lead-Antimony, Decline in Gold Production
[Tibet Huayu 2025 Annual Report Released] On April 29, Tibet Huayu released its 2025 annual report. In 2025, the company completed zinc concentrates production of 21,300 mt in metal content, up 9.07% YoY, lead-antimony concentrates with silver content production of 19,000 mt in metal content, up 14.56% YoY, and gold concentrates of 1,002 kg, down 46.66% YoY.
Apr 30, 2026 17:15