Shanghai Zinc: Downstream Gradually Starts Holiday, Spot Premiums Adjusted Downward [SMM Midday Review]
Jan 10, 2025 13:44 Source:SMM
[Shanghai Zinc: Downstream Gradually Starts Holiday, Spot Premiums Decline] Today, mainstream transaction prices of 0# zinc were concentrated at 24,855-25,000 yuan/mt, with Shuangyan traded at 24,965-25,100 yuan/mt, and mainstream transaction prices of 1# zinc at 24,785-24,930 yuan/mt. In the early session, the market quoted spot premiums of around 240-250 yuan/mt against the average price, with almost no follow-up offers...
SMM January 10 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 24,855-25,000 yuan/mt, with Shuangyan trading at 24,965-25,100 yuan/mt, and the mainstream transaction prices of 1# zinc at 24,785-24,930 yuan/mt. In the early trading session, the market spot premiums over the average price were around 240-250 yuan/mt, with almost no follow-up quotations. During the second trading session, ordinary domestic zinc was quoted at premiums of 790-800 yuan/mt against the 2502 contract, Honglu-V was quoted at a premium of 700 yuan/mt against the 2502 contract, and the high-end brand Shuangyan was quoted at a premium of 900 yuan/mt against the 2502 contract. As the year-end approaches, traders in the Shanghai market actively shipped goods, but some downstream enterprises in east China have already halted production for holidays, leading to a gradual weakening in zinc ingot demand. The price spread between futures contracts also narrowed, spot premiums continued to decline, and market transactions were still dominated by trader activities.