Shanghai Zinc: Traders Stand Firm on Quotes, Transactions Show No Improvement [SMM Midday Review]

SMM February 17 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 23,570-23,885 yuan/mt, with Shuangyan trading at 23,720-24,045 yuan/mt, and the mainstream transaction prices of 1# zinc at 23,500-23,815 yuan/mt. In the early trading session, the market quoted spot premiums of 0-20 yuan/mt against the average price, with fewer quotes against futures. During the second trading session, ordinary domestic brands were quoted at premiums of 0-20 yuan/mt against the 2503 contract, high-end brand Shuangyan at premiums of 150-180 yuan/mt against the 2503 contract, Huize at a premium of 100 yuan/mt against the 2503 contract, and Baiyin at a premium of 10 yuan/mt against the 2503 contract. Today marked the last trading day before delivery, and some traders continued to stand firm on quotes. Overall, spot premiums were basically flat compared to last Friday's levels. Although the futures market declined, downstream inquiries and purchases remained moderate, and overall spot transactions in Shanghai showed no significant improvement today.