Spot premiums for zinc in Shanghai stabilised

Mainstream traded prices of #0 zinc were 20460~20590 yuan/mt today, with 20640~20780 yuan/mt for Shuangyan zinc, and 20390~20520 yuan/mt for #1 zinc. Spot discounts were 0 ~ 10 yuan/mt over the average SMM zinc price. During the second trading session, regular domestic brands were quoted with discounts of 20~40 yuan/mt over the SHFE 2404 zinc contract. Shuangyan zinc was quoted with premiums of 140~170 yuan/mt over the contract. Today, the average transaction price of traders was close to the average SMM zinc price, and the premium was relatively stable. Downstream companies mainly need to replenish their inventory before the weekend. However, social inventories continued to increase, and the subsequent spot quotes are expected to be weak.