Shanghai Zinc: Futures Market Rebounded Compared to Yesterday, Trading Volume Turned Worse MoM [SMM Midday Review]

SMM March 12 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 23,895~24,015 yuan/mt, with Shuangyan trading at 23,965~24,075 yuan/mt, and 1# zinc mainstream transaction prices at 23,825~23,945 yuan/mt. In the early trading session, the market quoted premiums of 20 yuan/mt against the average price, with fewer quotations against the futures market. During the second trading session, ordinary domestic zinc was quoted at premiums of 10~30 yuan/mt against the 2504 contract, Baiyin at premiums of 10 yuan/mt against the 2504 contract, Huize at premiums of 70 yuan/mt against the 2504 contract, and the high-priced brand Shuangyan at premiums of 70 yuan/mt against the 2504 contract. The futures market showed a significant rebound overall. Today, market sentiment for purchasing and price collection weakened, and traders lowered their spot quotations to facilitate sales. Downstream procurement remained primarily just-in-time procurement, with spot transactions performing moderately.