Zinc in Shanghai: The Delivery in Shanghai has Recovered Slightly and the Discount has Narrowed [SMM Afternoon Comment]

Published: Apr 28, 2022 15:54

Source: SMM

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SMM Afternoon Comment: The delivery in Shanghai has recovered slightly. The certificated cargo holders were able to deliver but the vehicles were hard to find. In this case, the market hyped the export of Shuangyan, and its premiums soared. The overall transactions were modest today.

SHANGHAI, APR 28 (SMM) - 0# zinc mainstream traded at 27,630-27,750 yuan/mt, and Shuangyan traded at 27,740-27,880 yuan/mt. 0# zinc regular brand was in discounts of 30-10 yuan/mt over SHFE 2205, and Shuangyan quoted in premiums of 100yuan/mt. 1 # zinc mainstream traded at 27,560-27,680 yuan/mt. The zinc prices rose slightly today. With the transactions of next-month invoice, the market discount continued but the market delivery improved today. It is quoted in discounts of 30-10 yuan/mt over the 2205 contract, and traders quoted 10-20 yuan/mt over the average price. In the second period, the general zinc ingot of the holders was quoted in discounts of about 30 ~ 10 yuan/mt over the 2205 contract, and the market transactions were poor. The delivery in Shanghai has recovered slightly. The certificated cargo holders were able to deliver but the vehicles were hard to find. In this case, the market hyped the export of Shuangyan, and its premiums soared. The overall transactions were modest today.

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