Shanghai Zinc: Guangdong Spot Continues to Flow into East China, Downstream Makes Just-in-Time Procurement [SMM Midday Review]

SMM reported on December 27: Today, the mainstream transaction prices of 0# zinc were concentrated at 26,020-26,260 yuan/mt, with no quotations for Shuangyan. The mainstream transaction prices of 1# zinc were at 25,950-26,190 yuan/mt. In the early trading session, the market quoted premiums of around 100-160 yuan/mt against the average price, with almost no follow-up quotations. During the second trading session, ordinary domestic zinc was quoted at premiums of 430-490 yuan/mt against the 2501 contract, Huize was quoted at a premium of 480 yuan/mt against the 2501 contract, while high-end brand Shuangyan had no quotations against the 2501 contract. Suppliers in the market mainly focused on selling, but the futures market continued to fluctuate at highs. Spot cargoes in Guangdong also continued to flow into the east China market, with downstream purchasing on a just-needed basis. Overall, transactions were moderate.