Shanghai Zinc: Transactions Were Mainly Concentrated Between Traders, Premiums Stayed at Highs [SMM Midday Review]

On September 11, the mainstream transaction prices of 0# zinc were concentrated between 22,870-23,070 yuan/mt, Shuangyan brand was traded at 22,970-23,190 yuan/mt, and the mainstream transaction prices of 1# zinc were between 22,800-23,000 yuan/mt. In the early session, the average premium of cargoes with invoices dated this month was 40-60 yuan/mt, and the premiums were 240-250 yuan/mt against the 2410 contract, with limited actual transactions. In the second trading session, ordinary domestic brands were quoted at premiums of 240-260 yuan/mt against the 2410 contract, while the high-end brand Shuangyan was quoted at premiums of 340-380 yuan/mt against the 2410 contract. Zinc prices maintained a fluctuating trend. Downstream enterprises mainly picked up goods from factories, and the spot market saw trading mainly between traders under high invoice returns, with overall mediocre transactions.