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Zinc Spot Premiums Narrow Precipitously in Shanghai, and Imported Zinc Inverts to Discounts, SMM Reports
Jun 28,2017 13:54CST
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Source:SMM
Spot premiums of domestic zinc contracted sharply by 90-120 yuan per tonne to 100-230 yuan per tonne on June 28, SMM data showed.

SHANGHAI, Jun. 28 (SMM) - Spot premiums of domestic zinc contracted sharply by 90-120 yuan per tonne to 100-230 yuan per tonne on June 28, SMM data showed.

Chinese zinc smelters were more willing to sell due to high zinc prices. But downstream buyers purchased limitedly, SMM explained.

China Zinc Imports Return to Loss Territory, SMM Reports

Premiums of regular #0 zinc were lowered from 150 yuan per tonne to as low as 100 yuan per tonne.

Societe Generale Lowers Base Metals Forecast for 2017 and 2018

Premiums of some imported zinc also inverted to discounts, SMM added. Traders and downstream buyers both lacked buying interest as import losses continue expanding. Some additional imported resources arrived in Shanghai today.

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