Zinc Spot Premiums Shrink Further but Fail to Inspire Downstream Purchases, 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 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 remained firm today due to limited supply of spot zinc and steady downstream consumption, SMM reports.

Spot trading in Shanghai zinc market improved today due to active trading among traders under term contracts, 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

Spot trading in Shanghai market was weaker than yesterday as high zinc prices left downstream buyers on the sidelines, SMM reports.

After SHFE zinc prices rose, traders mostly took a wait-and-see attitude in the spot market, SMM reported.