SHANGHAI, May 25 (SMM) - Spot premiums of #0 zinc against SHFE front-month zinc slipped rapidly over the past two days as SHFE zinc rose. Spot premiums are expected to weaken further in the near term, SMM said.
SHFE zinc prices advanced and pointed toward 23,000 yuan per tonne this week. In this scenario, downstream buyers refrained from buying. And traders witnessed slow sales. Spot premiums on regular #0 zinc brands have fell from 390 yuan per tonne to 280 yuan per tonne.
In the meantime, imported zinc flowed to Shanghai market recently. So, spot premiums are set to decrease further in the near term, SMM added.
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