SHFE Zinc: Market Transactions Remain Active and Spot Prices were Flat [SMM Afternoon Review]

Mainstream transaction prices of SMM 0# zinc in Shanghai were 25,450-25,550 yuan/mt, and Shuangyan were 25,470~25,580 yuan/mt. 0# zinc with regular brands were quoted at a discount of 30-0 yuan/mt to the April contract, while Shuangyan at a premium of 0-20 yuan/mt. Mainstream transaction prices of 1# zinc were 25,380 - 25,480 yuan/ mt.

The zinc prices fluctuated today, while the market transactions remained active, and the discounts further narrowed. The discounts to the April contract were quoted at 30-10 yuan/mt, flat to the SMM average prices. In the second trading session, the discount remained unchanged, and the zinc ingots of regular brands held by traders were quoted with a discount of 20-0 yuan/mt to the April contract.

In general, zinc prices were still fluctuating, while the market transactions were still active today. There were sayings that the shipments in Shanghai were busy yesterday, which reflected the strong purchasing enthusiasm in the downstream after the prices dropped. Today's market trading continued to be robust. The discounts narrowed to zero.