Shanghai Zinc: Traders have purchased more goods and premiums have risen significantly [SMM Review]

On May 8, the mainstream traded price of 0# zinc stayed between 23,050-23,330 yuan/mt and that of 1# zinc between 22,980-23,260 yuan/mt. Shuangyan zinc was traded at 23,170-23,440 yuan/mt. In the morning, zinc with invoices dated June was at a premium of 10-15 yuan/mt over the SMM average price, and the quote for ordinary brands saw a discount of 90-100 yuan/mt against the 2306 contract. In the second trading period, ordinary domestic products were quoted at a discount of 80-100 yuan/mt against the 2406 contract, and the high-priced brand Shuangyan was quoted at a premium of 20-30 yuan/mt over the 2406 contract. Traders have purchased more goods amid recent large discounts. Downstream companies have purchased for rigid demand amid high zinc prices. Therefore, the overall transactions are mainly between traders.