SMM Comments: Zinc Prices in Shanghai Increased with Light Transactions

Zinc 0# in Shanghai mainstream prices stood at 26,190-26,340 yuan/mt, Shuangyan at 26,210-26,370 yuan/mt. Zinc 0# regular brand with discounts of 50-40 yuan/mt over the April contract, Shuangyan of 20 yuan/mt. Zinc 1# mainstream prices stood at 26,120-26,270 yuan/mt. Zinc prices rose today while holders decreased the quotations, but the follow transactions were very poor, with discounts of 50-40 yuan/mt over the April contract. Traders concluded the deals with prices lower than average. Some traders received goods with discounts of 15-5 yuan/mt over the average price of the month. The discounts remained weak in the second session, with holders of regular brands of zinc ingots quoting a discount of 50-40 yuan/mt over the April contract. Overall, after today's rise in zinc prices, market transactions further weakened even when the holders decreased their quotations. And traders concluded deals with prices below the average, while some traders receive goods at low prices. The overall transactions were weak today.

Disclaimer:

The above representation and data is based on market information SMM believes to be reliable at the time of acquiring as well as the comprehensive assessment by SMM research team, and any and all information provided in this article is for reference only. This article does not constitute a direct recommendation for investment or any decisions in any form and clients shall act on their own discreet and any decisions made by clients are not within the responsibility of SMM.