Shanghai Zinc: Increased Market Shipments by Traders, Spot Premiums Decline [SMM Midday Review]

SMM, January 9: Today, the mainstream transaction prices of 0# zinc were concentrated at 24,725-24,925 yuan/mt, with Shuangyan trading at 24,795-24,975 yuan/mt, and the mainstream transaction prices of 1# zinc at 24,655-24,855 yuan/mt. In the early trading session, market premiums over the average price were around 280-300 yuan/mt, with almost no follow-up quotations. During the second trading session, ordinary domestic zinc was quoted at premiums of 850-870 yuan/mt against the 2502 contract, Honglu-V was quoted at a premium of 750 yuan/mt against the 2502 contract, and the high-end brand Shuangyan was quoted at a premium of 920 yuan/mt against the 2502 contract. Some zinc ingots under long-term contracts arrived in Shanghai, and the number of traders offering goods in the market increased today. However, some enterprises continued to hold a bearish outlook, leading to low purchase willingness for spot zinc. Amid sluggish market transactions, some traders lowered their premium quotations. Downstream buyers made just-in-time procurement at lower prices, and overall market transactions were average.