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.
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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