Shanghai Zinc: Some Traders Held Prices Firm, Premiums Remained Volatile [SMM Midday Review]

Published: Jul 03, 2024 13:59 (GMT+8)

Source: SMM

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Today, the mainstream transaction prices for 0# zinc were concentrated between 24,290-24,480 yuan/mt, Shuangyan brand zinc was traded at 24,520-24,720 yuan/mt, and the mainstream transaction prices for 1# zinc were between 24,220-24,410 yuan/mt. In the early session, the average market price was at a small premium, but due to poor transactions, the average price fell to a discount of 0-5 yuan/mt. In the second trading session, the offers of ordinary domestic brands continued to be at a discount of around 90-100 yuan/mt against the 2408 contract, while the high-priced Shuangyan brand was at a premium of around 130-150 yuan/mt over the 2408 contract. Today, the quotes were made based on the 2408 contract instead. The market saw limited spot supply and expectations of reduced production. Some traders held prices firm, but transactions remained low at high prices. The overall premiums remained volatile.

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