Shanghai Zinc: Futures Market Continues to Fluctuate, Shanghai Spot Turns to Discount [SMM Midday Review]

Published: Feb 20, 2025 12:14

Save

[Shanghai Zinc: Futures Market Continued to Fluctuate, Shanghai Spot Turned to Discount] Today, mainstream transaction prices of 0# zinc were concentrated at 23,870-23,980 yuan/mt, with no quotations for Shuangyan. Mainstream transaction prices of 1# zinc were at 23,800-23,910 yuan/mt. In the early session, the market quoted a premium of 0-10 yuan/mt against the average price and a discount of 20-10 yuan/mt against the 2503 contract...

SMM February 20 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 23,870-23,980 yuan/mt, with no quotations for Shuangyan. The mainstream transaction prices of 1# zinc were at 23,800-23,910 yuan/mt. In the early trading session, the market quoted spot premiums of 0-10 yuan/mt against the average price and discounts of 20-10 yuan/mt against the 2503 contract. During the second trading session, ordinary domestic zinc was quoted at discounts of 20-10 yuan/mt against the 2503 contract, Huize was quoted at premiums of 80-90 yuan/mt against the 2503 contract, Baiyin was quoted at a discount of 10 yuan/mt against the 2503 contract, and the high-priced brand Shuangyan had no quotations against the 2503 contract. Zinc ingots continued to arrive in the Shanghai market this week, and traders lowered spot premium quotations to facilitate sales. Shanghai spot entered the discount range, but downstream demand for zinc ingots remained weak recently. The futures market maintained a fluctuating trend in the morning, and spot market transactions remained poor today.

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

1 hour ago

Data: SHFE, DCE market movement (Mar 19)

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 19 Mar , 2026

1 hour ago

8 hours ago

LME Drove SHFE, and SHFE Zinc Opened Lower with a Gap [SMM Zinc Morning Comment]

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2605 contract opened lower with a gap at 23,110 yuan/mt. Bears then continued to add positions, sending SHFE zinc below key support to a low of 22,940 yuan/mt. It finally closed down at 23,010 yuan/mt, down 335 yuan/mt, or 1.43%. Trading volume fell to 55,828 lots, while open interest increased by 1,260 lots to 96,424 lots.

8 hours ago

US Fed Kept Interest Rates Unchanged, LME Zinc Came Under Pressure [SMM Morning Meeting Summary]

[SMM Morning Meeting Summary: The US Fed Held Rates Unchanged, and LME Zinc Came Under Pressure] Overnight, LME zinc opened at $3,220.5/mt. In early trading, LME zinc briefly rose to a high of $3,227/mt, after which bulls reduced their positions, and LME zinc fluctuated downward throughout the session, hitting a low of $3,130/mt near the close. It finally closed down at $3,132.5/mt, a decrease of $100.5/mt, or 3.11%. Trading volume increased to 16,556 lots, and open interest fell by 6,295 lots to 208,000 lots.

8 hours ago