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Shanghai Zinc Spot Premiums Rise to Record High as Short Squeeze Intensifies, SMM Reports
Jun 12,2017 15:15CST
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Source:SMM
Spot premiums on #0 zinc in Shanghai expanded 210-300 yuan per tonne from last Friday to an all-time high of 1,160-1,300 yuan per tonne over July zinc on the Shanghai Futures Exchange (SHFE) June 12,

SHANGHAI, Jun. 12 (SMM) – Spot premiums on #0 zinc in Shanghai expanded 210-300 yuan per tonne from last Friday to an all-time high of 1,160-1,300 yuan per tonne over July zinc on the Shanghai Futures Exchange (SHFE) June 12, SMM data showed.

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Spot zinc supplies are insufficient before delivery, increasing short squeeze in the market. The price spread between domestic and imported zinc expanded to 270-280 yuan per tonne, also the largest in record.

#0 zinc in Shanghai traded in the range of 23,400-23,580 yuan per tonne on June 12.

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