[Guangdong Zinc: Sluggish trading atmosphere in the market, spot premiums continue to decline] The mainstream transactions of 0# zinc in Guangdong were concluded at 22,810-22,980 yuan/mt. The mainstream brands quoted a premium of 295 yuan/mt against the 2506 contract and a premium of 50 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread widened....

[Shanghai Zinc: Futures Market Rises Significantly, Downstream Purchase Willingness Low]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,785-22,975 yuan/mt, with Shuangyan trading at 23,905-23,235 yuan/mt, and 1# zinc mainly trading at 22,715-22,905 yuan/mt. In the morning session, the market offered a premium of 30-50 yuan/mt against the average price, with no quotes against the futures market...

[Ningbo Zinc: Impact of Low Import Prices, Traders Continue to Adjust Prices] The transaction prices of mainstream brand 0# zinc in the Ningbo market were around 22,845-22,925 yuan/mt. The quotes for mainstream brands in Ningbo were at a premium of 295 yuan/mt against the 2506 contract, and at a premium of 50 yuan/mt against spot cargo in Shanghai. Mainstream quotes in the Ningbo region were against the 2506 contract...

[Tianjin Zinc: Futures Market Rebounds, Traders Dominate Trading] In the Tianjin market, the mainstream transaction price of #0 zinc ingot ranged from 22,790 to 23,060 yuan/mt, with Zijin's transaction price ranging from 22,930 to 23,130 yuan/mt. The transaction price of #1 zinc ingot was around 22,420 to 22,570 yuan/mt, while Huludao reported a price of 26,200 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was around 250 to 380 yuan/mt, and the premium for Zijin against the 2506 contract was around 390 to 450 yuan/mt. The Tianjin market was on par with the Shanghai market.

[SMM Zinc Morning Comment] Overnight, the LME zinc contract recorded a long lower shadow bullish candlestick, with the 5-day daily average providing support below. As the US CPI data fell short of expectations, the US dollar pulled back, and LME zinc prices rose.

[SMM Morning Meeting Summary: Inflation Data Falls Short of Expectations, Zinc Prices Hold Up Well] Overnight, SHFE zinc recorded a bullish candlestick, with the MACD bullish candlestick expanding. Driven by the strength of the LME market overnight, SHFE zinc prices surged rapidly. However, due to the expected arrival of imports and the lack of enthusiasm from downstream buyers, spot premiums pulled back quickly, the price spread between near-month contracts narrowed, inventory...

Following a rapid and intense escalation of trade war throughout March and April, the governments of the United States and China reached a temporary agreement on May 12 after talking in Geneva, to partially suspend tariff and reestablish a channel for bilateral negotiations......

[Macro and Fundamentals Resonate, SHFE Zinc Expected to Maintain Fluctuating Trend]: The most-traded SHFE zinc 2506 contract opened at 22,330 yuan/mt. In the early session, a tug-of-war between longs and shorts saw the center of SHFE zinc prices fluctuate rangebound around 22,320 yuan/mt. Subsequently, as bears increased their positions, SHFE zinc prices fluctuated downward, dipping to a low of 22,135 yuan/mt. Towards the end of the session, SHFE zinc prices recouped some of the losses, closing at 22,325 yuan/mt, down 165 yuan/mt or 0.73%. Trading volume decreased to 171,000 lots, while open interest fell by 5,995 lots to 112,000 lots.....

SMM Analysis:Recently, Q1 reports of overseas listed zinc mining companies have been released one after another. Unexpected factors such as heavy rain, floods, and wildfires disrupted production again in Q1, causing a decline in output at some mines. However, production at other mines continued to recover or ramp up. With both increases and decreases, how did overseas zinc mines perform in Q1? Let's examine the specific performance of each miner.....

[SMM Analysis: Overseas Zinc Mines Continue to Increase Production, Zinc Concentrates Production Up YoY in Q1 2025] Recently, the Q1 reports of overseas listed zinc mining companies have been released one after another. Unexpected factors such as heavy rain, floods, and wildfires disrupted production again in Q1, causing a decline in the output of some mines. However, the production of some other mines continued to recover or increase in Q1. With both increases and decreases, how did overseas zinc mines perform in Q1? Let's take a look at the specific performance of each miner...