Shanghai Zinc: Qilin Zinc Ingot Arrives in Shanghai Market, Transactions Remain Sluggish [SMM Midday Review]

Published: Feb 12, 2025 11:45

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[Shanghai Zinc: Qilin Zinc Ingots Arrive in Shanghai Market, Transactions Remain Weak] Today, mainstream transaction prices for 0# zinc were concentrated at 23,570-23,845 yuan/mt, with no transactions for Shuangyan. Mainstream transaction prices for 1# zinc were at 23,520-23,805 yuan/mt. In the early session, the market quoted a premium of 0-10 yuan/mt against the average price and a premium of 20-30 yuan/mt against the 2503 contract.

SMM February 12 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 23,570-23,845 yuan/mt, with no transactions for Shuangyan. The mainstream transaction prices of 1# zinc were at 23,520-23,805 yuan/mt. In the early trading session, the market quoted spot premiums of 0-10 yuan/mt against the average price and premiums of 20-30 yuan/mt against the 2503 contract. During the second trading session, ordinary domestic brands were quoted at premiums of 20-30 yuan/mt against the 2503 contract, while high-priced brand Shuangyan had no quotations against the 2503 contract. Huize was quoted at premiums of 100-120 yuan/mt against the 2503 contract, and Baiyin at premiums of 30 yuan/mt against the 2503 contract. Kirin zinc ingots arrived in the Shanghai market, increasing the supply in the Shanghai market today. However, with the futures market rebounding from a low level in the morning, downstream enterprises showed low purchase willingness. Shanghai traders continued to face sluggish sales, and spot premiums declined further compared to yesterday. Continuous attention is needed on the subsequent resumption of production by enterprises.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

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