Shanghai Zinc: Some Traders Stand Firm on Quotes, Premiums Remain Flat Compared to Yesterday [SMM Midday Review]

SMM February 14 News: Today, mainstream transaction prices for #0 zinc were concentrated at 23,760-24,125 yuan/mt, with Shuangyan traded at 24,010-24,355 yuan/mt, and #1 zinc mainstream transaction prices at 23,690-24,055 yuan/mt. In the early trading session, market quotations for the average price were at premiums of 0-20 yuan/mt, with fewer quotations against futures. During the second trading session, ordinary domestic brands were quoted at premiums of 0-20 yuan/mt against the 2503 contract, high-end brand Shuangyan was quoted at a premium of 250 yuan/mt against the 2503 contract, Huize at a premium of 100 yuan/mt against the 2503 contract, and Baiyin at parity against the 2503 contract. As delivery approached, some traders in the market were reluctant to sell at low prices, showing a strong sentiment to stand firm on quotes. Spot premiums in the Shanghai market remained basically stable today. However, with a significant rise in the futures market in the morning, downstream enterprises were deterred by high prices, weakening their buying sentiment, and overall transactions were still mainly between traders.