[SMM Spot Aluminum Lunch Review: Spot Market Remains Sluggish, East China Premiums Narrow Rapidly] On the inventory side, according to SMM's domestic aluminum ingot inventory data, the domestic inventory of electrolytic aluminum ingots in three regions stood at 329,000 mt on July 2, a destocking of 500 mt from the previous trading day. In the short term, despite the low aluminum ingot inventory, the increase in casting ingot production has supplemented market supply. Additionally, there is a strong fear of high prices in the spot market, coupled with poor downstream demand and significant production cuts, resulting in low purchase willingness. Transactions are occurring at discounts, and it is expected that the spot premiums will narrow in the short term.

[Guangdong Zinc: Futures Market Rises Slightly, Spot Cargo Transactions Sluggish]  The mainstream transactions of 0# zinc in Guangdong ranged from 22,190 to 22,330 yuan/mt. The mainstream brands were quoted at a premium of 45 to 85 yuan/mt against the 2508 contract, and at a spot discount of 40 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread widened......

[Tianjin Zinc: Some traders refuse to budge on prices, with premiums holding steady] In the Tianjin market, the mainstream transaction price for #0 zinc ingot ranged from 22,190 to 22,310 yuan/mt, with Zijin trading at 22,250 to 22,340 yuan/mt. The transaction price for #1 zinc ingot was around 22,110 to 22,200 yuan/mt, while Huludao reported a price of 25,650 yuan/mt. The ordinary #0 zinc ingot was quoted at a discount of 0 to 40 yuan/mt against the 2507 contract, with Zijin quoted at a premium of 20 to 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.

As of now, the MHP coefficient (relative to the SMM battery-grade nickel sulphate index) ranges from 83.5% to 84%, and the FOB price of Indonesian MHP is $12,478/mt Ni.

[Shanghai Zinc: Futures Market Fluctuates, Premium Holds Steady MoM]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,305-22,415 yuan/mt, with Shuangyan zinc trading at 22,365-22,495 yuan/mt, and 1# zinc trading at 22,235-22,345 yuan/mt. In the morning session, the market offered a premium of 40-70 yuan/mt against the SMM average price, with no offers against the futures market...