[SMM Spot Aluminum Lunchtime Review: Spot Premiums Continue to Fall, Market Transactions Sluggish] On the inventory side, according to SMM's domestic aluminum ingot inventory data, as of July 1, the domestic inventory of electrolytic aluminum ingots in three regions stood at 329,500 mt, showing an inventory buildup of 0.65 compared to the previous trading day. In the short term, despite the low inventory levels of aluminum ingots, there has been a slight trend of inventory buildup. The spot market is experiencing strong fear of high prices, with poor downstream demand and significant production cuts. Purchase willingness is low, and transactions are occurring at a discount. It is expected that spot premiums will show a narrowing trend in the short term.

[Guangdong Zinc: Guangdong Inventory Increases Slightly, Spot Premiums Continue to Decline]  The mainstream transaction price of 0# zinc in Guangdong ranged from 22,185 to 22,435 yuan/mt. Mainstream brands were quoted at a premium of 45 to 70 yuan/mt against the 2508 contract, and at a discount of 30 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened......

[Tianjin Zinc: Futures Market Declines, Limited Improvement in Trading Volume] In the Tianjin market, mainstream transactions for #0 zinc ingot were conducted at 22,190-22,440 yuan/mt, with Zijin transactions at 22,230-22,450 yuan/mt. Transactions for #1 zinc ingot were around 22,100-22,310 yuan/mt, while Huludao reported prices at 25,640 yuan/mt. The ordinary #0 zinc ingot was quoted at a discount of 30 yuan/mt to a premium of 20 yuan/mt against the 2507 contract, with Zijin quoted at a premium of 10-30 yuan/mt against the 2507 contract. The Tianjin market was quoted at a discount of around 70 yuan/mt compared to the Shanghai market.

[SMM Tin Midday Review: SHFE Tin Pulls Back from Highs, Tight LME Tin Inventory Supports Cross-Market Price Spread] On July 1, 2025, the most-traded SHFE tin 2508 contract was in the doldrums: it opened at 267,800 yuan/mt, 340 yuan lower than the settlement price of the previous trading day. The intraday fluctuation range remained rangebound between 267,900 yuan/mt and 266,100 yuan/mt. It closed at 266,590 yuan/mt, down 1,550 yuan, or 0.58%. Trading and open interest were sluggish, with strong wait-and-see sentiment in the market. The open interest of the most-traded contract decreased by 1,610 lots.

[Shanghai Zinc: Futures Market Declines Significantly, Transaction Volume Improves]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,300 to 22,520 yuan/mt, with Shuangyan zinc trading at 22,400 to 22,620 yuan/mt, and 1# zinc trading mainly at 22,230 to 22,450 yuan/mt. In the morning session, the market offered a premium of 10 to 30 yuan/mt against the SMM average price, with no offers against the futures market...