Zinc spot trading more active in Shanghai than Guangdong on May 18

Published: May 18, 2018 14:17

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China's zinc spot market traded more actively in Shanghai than in Guangdong on Friday May 18, SMM learned. Offers in both markets rose

SHANGHAI, May 18 (SMM) – China's zinc spot market traded more actively in Shanghai than in Guangdong on Friday May 18, SMM learned. Offers in both markets rose.

Buyers in Shanghai showed a preference for SMC imported zinc from Australia, which traded at a premium of 50-70 yuan/mt. Downstream demand in Shanghai held steady amid relatively tight supplies, SMM learned.

In Shanghai, #0 zinc mostly traded at 24,020-24,060 yuan/mt. The 0# common brand traded at a premium of 150-180 yuan/mt against the SHFE 1806 contract, compared with premiums of 140-150 yuan/mt on Thursday. The premium for 0# Shuangyan brand also gained 20-30 yuan/mt from Thursday to 160-180 yuan/mt. At noon, 1# zinc traded at 23,900-23,940 yuan/mt.

In Guangdong, #0 zinc mostly traded at 23,850-23,900 yuan/mt. The Guangdong-Shanghai price spread widened 50 yuan/mt from the previous day to 100 yuan/mt. Cargoes mostly traded at a premium of 150-180 yuan/mt over the SHFE 1807 contract, some 10 yuan/mt wider from last day. Relatively poorer downstream demand accounted for the weak transactions in Guangdong.

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Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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