Spot zinc trades pick up in Shanghai, Guangdong

Published: Sep 18, 2018 17:16

Save

Rising prices of zinc futures improved destocking sentiment across Shanghai smelters

SHANGHAI, Sep 18 (SMM) – Rising prices of zinc futures improved destocking sentiment across smelters in Shanghai, and fuelled spot transactions on Tuesday September 18. In the second trading session, trades cooled slightly as higher prices deterred purchasingg interest across buyers.

In Shanghai, 0# common brand was mostly offered at a premium of 450-500 yuan/mt over the SHFE 1810 contract, with the highest of 520 yuan/mt this morning. Tighter supplies kept offers of Shuangyan brand at a premium of 560-620 yuan/mt.

The SHFE 1810 contract surged in the morning and closed at 21,400 yuan/mt at the end of the morning trading session, 360 yuan/mt higher from that time on Monday.

Transactions also picked up in Guangdong as the downstream resumed operation from Typhoon Mangkhut. Traders held premiums firm at highs as market supplies were tight.

In Guangdong, premiums of #0 zinc stood at 940-960 yuan/mt over the SHFE 1811 contract, flat from Monday. This morning saw traded prices of 21,740-21,880 yuan/mt. The Guangdong-Shanghai price spread stood at a discount of 50 yuan/mt today.

Market commentary Spot zinc

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.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

5 hours ago

LME Zinc Plunges 2.5% from Four-Year High, Driven by Chinese Export Expectations and Copper Pullback

[SMM Flash] Sep 10 — LME zinc plunged from its highs. As of 19:00 Beijing time, LME zinc fell to USD 3,960/t, down around 2.5%. The price reversed sharply just one day after hitting a more-than-four-year high of USD 4,065/t yesterday. The decline was mainly driven by mounting expectations of Chinese export deliveries onto the LME, compounded by a sharp pullback in LME copper amid shifting tariff expectations, which weighed on risk appetite across the base metals complex. Keep watching the LME time spreads (contango/back) and the pace of zinc warrant deliveries going forward.

5 hours ago

9 hours ago

Data: SHFE, DCE market movement (Sep 10)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 10 Sep , 2026

9 hours ago

10 hours ago

Salazar Resources Updates Curipamba-El Domo Project in Ecuador, Targets July 2027 Production Start

On September 9, Salazar Resources updated progress on the Curipamba-El Domo polymetallic project in Ecuador, a JV with Silvercorp in which Salazar holds 25% (carried to production) and Silvercorp holds 75% as operator. The project has measured and indicated resources of 11.4 Mt grading 1.85% Cu, 2.11 g/t Au, 2.42% Zn and 0.22% Pb. Designed throughput is 666,000 t/year, with first production expected in July 2027 and an 11.5-year mine life.

10 hours ago