SHANGHAI, Nov.20 (SMM)－Today premium of 0# zinc spot in Tianjin Market against premium of Contract 1712 of SHFE Zinc reaches 300-350 yuan, with premium price difference between two markets enlarging from 50 yuan per tonne last Friday to 120 yuan. Mainly reason is:
On one hand, as per SMM research, in October due to the 19th CPC National Congress and green policies in North China, zinc consumption of downstream enterprises in North China is greatly affected. Currently, some downstream plants are recovering their production. Some enterprise become willing to purchase goods, which drives zinc demand.
On the other hand, Shanghai market gains a normal inflow of imported zinc. After smelting plant finished maintenance, with normal arrival of goods, the supply is sufficient. Downstream plants purchase as per needs with limited consumption ability. Also after delivery, some warrants goods flow out, so overall premium of Shanghai Market is weakened.
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