Here’s Why Zinc Spot Premiums Shrink Remarkably in China, SMM Reports-Shanghai Metals Market

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Here’s Why Zinc Spot Premiums Shrink Remarkably in China, SMM Reports

SMM Insight 03:08:37PM Jun 22, 2017 Source:SMM

SHANGHAI, Jun. 22 (SMM) - Spot premiums on #0 zinc contracted noticeably on June 22 from yesterday, SMM noted.

Spot premiums in Shanghai and Guangdong contracted 80-140 yuan per tonne and 100 yuan per tonne, respectively, to 420-630 yuan per tonne and 330-400 yuan per tonne, SMM data showed.

WBMS: World Zinc Market in Severe Deficit in January-April despite More Output

SMM learned imported zinc is more popular with downstream buyers compared to domestic zinc. Sluggish trading of domestic zinc weighed down premiums of domestic resources.

Cargo holders, at the same time, frequently lower spot premiums to push sales because of fears that spot premiums will fall further.

What Pushes down Zinc Premiums So Hard in Guangdong? Where will They Head? SMM Reports

Moreover, SHFE zinc surged, which posted a 7-day winning streak. This also helped expand premiums, SMM added.  

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn. 

Here’s Why Zinc Spot Premiums Shrink Remarkably in China, SMM Reports

SMM Insight 03:08:37PM Jun 22, 2017 Source:SMM

SHANGHAI, Jun. 22 (SMM) - Spot premiums on #0 zinc contracted noticeably on June 22 from yesterday, SMM noted.

Spot premiums in Shanghai and Guangdong contracted 80-140 yuan per tonne and 100 yuan per tonne, respectively, to 420-630 yuan per tonne and 330-400 yuan per tonne, SMM data showed.

WBMS: World Zinc Market in Severe Deficit in January-April despite More Output

SMM learned imported zinc is more popular with downstream buyers compared to domestic zinc. Sluggish trading of domestic zinc weighed down premiums of domestic resources.

Cargo holders, at the same time, frequently lower spot premiums to push sales because of fears that spot premiums will fall further.

What Pushes down Zinc Premiums So Hard in Guangdong? Where will They Head? SMM Reports

Moreover, SHFE zinc surged, which posted a 7-day winning streak. This also helped expand premiums, SMM added.  

For news cooperation, please contact us by email: sallyzhang@smm.cn or service.en@smm.cn.