Shanghai Zinc: Futures Market Rebound from Lows, Premiums Remain Stable [SMM Midday Review]

SMM March 3 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 23,525-23,790 yuan/mt, with Shuangyan trading at 23,685-23,930 yuan/mt, and the mainstream transaction prices of 1# zinc at 23,455-23,720 yuan/mt. In the early trading session, market quotations were on par with the average price, with few quotes against the futures market. During the second trading session, ordinary domestic zinc was quoted at premiums of 0-20 yuan/mt against the 2503 contract, Huize at a premium of 140 yuan/mt against the 2503 contract, Baiyin at a premium of 10 yuan/mt against the 2503 contract, and the high-priced brand Shuangyan at a premium of 150 yuan/mt against the 2503 contract. In the morning, the futures market rebounded from a low level. Downstream enterprises, having purchased at low prices last week and holding certain inventories, showed low purchasing sentiment today. Although some traders had a sentiment to stand firm on quotes, overall spot transactions were sluggish, mainly limited to inter-trader transactions. Spot premiums remained stable today.