Shanghai Zinc: Imported zinc ingots arrive in succession, premium struggles to rise [[SMM Midday Review]]

SMM, April 28: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,850-22,980 yuan/mt, with Shuangyan zinc trading at 23,030-23,150 yuan/mt, and 1# zinc trading mainly at 22,780-22,910 yuan/mt. In the morning session, the market quoted premiums of 0-10 yuan/mt against the average price, with fewer quotes against the futures market. In the second trading session, the quotes for ordinary domestic zinc were at premiums of 170-180 yuan/mt against the 2505 contract, while Baiyin quoted premiums of 220 yuan/mt against the 2505 contract, Huize quoted premiums of 350 yuan/mt against the 2505 contract, and the high-end brand Shuangyan also quoted premiums of 350 yuan/mt against the 2505 contract. Today, market traders focused on selling, and the futures market declined slightly. Some downstream buyers took advantage of the low prices to place orders. Some traders reported an improvement in spot transactions. However, imported zinc ingots continued to flow into the Shanghai market before the holiday, and the spot premiums for domestic zinc struggled to rise.