Spot premiums hovered at high levels last week. As of last Friday, premiums of domestic regular brands stood at 210 yuan/mt over the SHFE 2306 zinc contract, and spot premiums of Shuangyan zinc were 360 yuan/mt over the contract. Zinc prices fell rapidly last week, but the premiums did not see a significant boost.
The main reason was that downstream purchases were less than expected due to market panic. Besides, imported zinc flowed into the Shanghai market, which had an impact on the premiums. But low available domestic zinc brands supported spot premiums. It is expected that this week, with the increase in domestic goods and the impact of imported brands, spot premiums in Shanghai are likely to fall.
More popular news:
Copper Shortage Is Irreparable Even after Biggest Mergers and Acquisitions, Here’s Why
Testing Agency Responds to Great Wall Motor Report on BYD to Chinese Authorities
BHP Says China's Real Estate Recovery Will Boost Metals Demand
G7 to Expand Sanctions Covering Metals on Russia, Promises Further Support for Ukraine
Trafigura Sees Copper Prices Rising to All-Time High on China Economic Rebound and Supply Shortages
A Bull Gold Market Has Just Begun
Goldman Sachs Lowers Price Forecast for Aluminium, Copper in 2023, Sees Nickel Price Plunging
'Bond King' Jeffrey Gundlach Says Sharp Fed Rate Cuts By Year-End Will Push Up Gold Prices
Zinc Prices to Plunge by 2025, Here's Why
IMF: US Debt Defaults Will Take a Heavy Toll on Global Economy, Global GDP Growth Can Plunge
BofA Sharply Lowers Forecast for Oil Price, Global Oil Consumption in 2023
US Treasury Bill Rates Soar to Record High on Debt Ceiling Jitters



