The domestic futures market rose significantly during the week, while spot premiums in Shanghai declined. [SMM Shanghai Spot Weekly Review]

SMM March 7 News: This week, quotes in the Shanghai region remained weak, basically flat WoW compared to the weekly average price. As of this Friday, quotes for ordinary domestic brands were at a discount of 10-0 yuan/mt against the 2504 contract, while high-end brand Shuangyan quoted a premium of 60 yuan/mt against the 2504 contract. During the week, traders in the Shanghai market focused on selling. In the first half of the week, zinc prices declined, prompting some downstream buyers to make purchases at lower prices, with moderate transaction performance. However, as the futures market rose significantly later, buying sentiment among enterprises weakened. Traders lowered spot quotes to facilitate sales, and most spot transactions were just-in-time procurement with pricing at a later stage. As delivery approaches, spot premiums are expected to show no significant improvement next week.

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