Shanghai Zinc: Futures Market Continues to Decline, Some Downstream Starts Stockpiling [SMM Midday Review]

SMM January 6 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 25,240-25,400 yuan/mt, with no quotations for Shuangyan. The mainstream transaction prices of 1# zinc were at 25,170-25,330 yuan/mt. In the early trading session, the market quoted premiums of around 250 yuan/mt against the average price, with almost no follow-up quotations. During the second trading session, ordinary domestic zinc was quoted at premiums of around 600 yuan/mt against the 2501 contract, Huize was quoted at premiums of around 550 yuan/mt against the 2501 contract, while high-end brand Shuangyan had no quotations against the 2501 contract. Although some zinc ingots arrived over the weekend, the overall market quotations from traders remained limited today. Some downstream buyers, concerned about continued supply tightness, have recently started stocking up raw materials. Coupled with the continued decline in the futures market today, overall spot zinc transactions improved.