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The Premiums Declined amid Poor Zinc Market Transactions in Shanghai

iconMay 19, 2022 13:46
Source:SMM
On the whole, as the downstream has done enough procurement in the early stage, the current willingness of accepting goods was poor. At the same time, the trade market was dominated by shipments, but there are very few receivers and the transaction was extremely poor. As a result, the holders gradually lowered the premiums.

SHANGHAI, May 19 (SMM) - Shanghai 0#Zinc mainstream transactions were in 25,440~25,610 yuan/mt, Shuangyan traded at 25,480~25,670 yuan/mt. 0# zinc regular brand was in premiums of 60-100 yuan/mt over SHFE 2206, and Shuangyan quoted in premiums of 200 yuan/mt. 1 # zinc mainstream traded at 25,370-25,670 yuan/mt.

Zinc prices rebounded slightly today, and the market shipped with firm prices in the morning. However, today's market trading was very poor, hence the holders chose to reduce the premiums and quoted in premiums of 70-100 yuan/mt over the 2206 contract and 15-5 yuan/mt over the average price. In the second period, the general zinc ingot of the holders was quoted in premiums of about 60 ~ 80 yuan/mt over the 2206 contract. On the whole, as the downstream has done enough procurement in the early stage, the current willingness of accepting goods was poor. At the same time, the trade market was dominated by shipments, but there are very few receivers and the transaction was extremely poor. As a result, the holders gradually lowered the premiums.

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