Shanghai Zinc Spot Premiums to Fall Further in Near Term, SMM Reports

Published: May 25, 2017 15:36

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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.

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.

Zinc Spot Premiums in Guangdong Shrink Fast on More Supplies, SMM Reports

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.

Putian Port Imports Zinc Oxide Concentrates for the First Time

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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premiums zinc imports SHFE/LME zinc price ratio zinc prices zinc output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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