Zinc Spot Premiums Shrink in Tianjin due to Imported Zinc? SMM Reports

The focus this week includes: The Fed’s FOMC meeting, coal price trends, final value of October Manufacturing PMI in Eurozone, final value of US October Markit Manufacturing PMI, October ISM Manufacturing PMI, October ADP Employment, October unemployment rate; China's October Caixin Manufacturing PMI and October Caixin Service PMI. In terms of events, FOMC will announce the interest rate resolutions this Thursday; the Fed Chairman Powell will hold a press conference; the Bank of England will announce interest rate resolutions, meeting minutes, and monetary policy reports; and European Central Bank President Lagarde and Executive Committee Member Schnabel will deliver speeches.

SHFE zinc climbed up unexpectedly on Monday May 7 as it traded without being weighed down by its LME counterpart

Spot premiums on #0 zinc shrank sharply from 580-750 yuan per tonne early this week to 400-450 yuan per tonne over SHFE October zinc in Tianjin on September 22, SMM reported.

Spot premiums of domestic zinc remained firm between 320-430 yuan per tonne today over SHFE October zinc, SMM reported.

Spot zinc trading improved in Guangdong today as traders purchased goods actively.

Spot premiums on copper were quoted at 100-140 yuan per tonne on September 15, the highest from April 21, according to SMM data.

Spot premiums of #0 zinc remained firm today between 280-480 yuan per tonne over October SHFE zinc, SMM reported.

Spot trading in Shanghai copper market is quiet today as SHFE copper rose, SMM said.

Spot trading in Shanghai zinc market was actively today as both traders and downstream buyers showed strong buying interest, SMM reports

Profit for imported zinc inverted from 300 to losses of 100 yuan per tonne since the SMM/LME zinc price ratio fell to 8.2 on September 5, closing the import profit window for zinc, SMM reports.