Shanghai Zinc: Traders Show Low Willingness to Sell at Discounts, Downstream Continues Purchasing as Needed [SMM Midday Review]

Published: Feb 19, 2025 11:43

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[Shanghai Zinc: Traders Show Low Willingness to Sell at Discounts, Downstream Continues Purchasing as Needed] Today, mainstream transaction prices for 0# zinc were concentrated at 23,850-24,030 yuan/mt, with Shuangyan trading at 23,970-24,170 yuan/mt, and mainstream transaction prices for 1# zinc at 23,780-23,960 yuan/mt. In the early session, market quotes for premiums over the average price were 0-10 yuan/mt, with fewer quotes against the contract...

SMM February 19 News: Today, mainstream transaction prices for 0# zinc were concentrated at 23,850-24,030 yuan/mt, with Shuangyan traded at 23,970-24,170 yuan/mt, and mainstream transaction prices for 1# zinc at 23,780-23,960 yuan/mt. In the early trading session, the market quoted spot premiums of 0-10 yuan/mt against the average price, with fewer quotes against futures. During the second trading session, ordinary domestic brands were quoted at premiums of 0-10 yuan/mt against the 2503 contract, high-end brand Shuangyan was quoted at premiums of 100-150 yuan/mt against the 2503 contract, Huize at a premium of 80 yuan/mt against the 2503 contract, and Baiyin at parity against the 2503 contract. Some market traders maintained a sentiment to stand firm on quotes, with low willingness to sell at discounts. However, the futures market continued to fluctuate at highs in the morning, and downstream enterprises showed low purchasing interest, opting to purchase as needed. As a result, spot transactions did not improve today, and spot premiums in the market remained stable.

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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