SHANGHAI, Apr 18 – China's zinc spot market traded more actively on Wednesday April 18 than yesterday. As the SHFE 1805 contract failed to stay firm above 24,000 yuan/mt this morning, downstream demand in Shanghai held steady amid relatively tight supplies, SMM learned.
In the Shanghai market, 0# zinc traded at 24,150-24,230 yuan/mt. The 0# common brand traded at a premium of 220-250 yuan/mt against the SHFE 1805 contract, and the 0# Shuangyan brand traded at a premium of 230-260 yuan/mt. 1# zinc traded at 24,100-24,180 yuan/mt at noon.
Reluctant sellers kept transactions in the Guangdong market flat from the previous day. The 0# zinc was heard to trade at 24,100-24,150 yuan/mt, about 50-40 yuan/mt lower than the spot market in Shanghai. This translated to a premium of 190-200 yuan/mt against the SHFE 1805 contract, about 20 yuan/mt more than the previous day.
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