Shanghai zinc: Domestic zinc ingot supply is limited, and traders hold prices relatively firm

Published: Aug 8, 2024 14:35

Source: SMM

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Today, the mainstream transaction prices for 0# zinc were concentrated at 21,840~21,940 yuan/mt, Shuangyan traded at 22,120~22,210 yuan/mt, and 1# zinc traded at 22,120~22,210 yuan/mt.

Today, the mainstream transaction prices for 0# zinc were concentrated at 21,840~21,940 yuan/mt, Shuangyan traded at 22,120~22,210 yuan/mt, and 1# zinc traded at 22,120~22,210 yuan/mt. In the early trading session, the market average price had a premium of 0~10 yuan/mt, with a premium of around 20 yuan/mt over the 2409 contract and around 40 yuan/mt over the 2408 contract, but there were few transactions following the market, with most transactions at the average price. In the second trading session, the ordinary domestic quotes had a premium of around 20~30 yuan/mt over the 2409 contract, while the high-priced brand Shuangyan had a premium of around 300 yuan/mt over the 2409 contract. Zinc prices fell, the market had limited domestic supply, traders' quotes were relatively firm, but imported zinc ingots continued to impact the market. The price spread between imported and domestic zinc ingots was around 10~20 yuan/mt, with downstream buyers preferring low-priced brands, and overall transactions were moderate.

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