Shanghai Zinc: Futures Market Continues to Rise, Premium Remains Low [SMM Midday Review]

SMM March 13 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 24,095-24,120 yuan/mt, with Shuangyan trading at 24,165-24,180 yuan/mt, and 1# zinc mainstream transaction prices at 24,025-24,050 yuan/mt. In the early trading session, the market quoted spot premiums of 20 yuan/mt against the average price, with fewer quotes against futures. During the second trading session, ordinary domestic zinc was quoted at premiums of 0-20 yuan/mt against the 2504 contract, Baiyin was quoted on par with the 2504 contract, Huize was quoted at a premium of 70 yuan/mt against the 2504 contract, and the high-priced brand Shuangyan was quoted at premiums of 70-80 yuan/mt against the 2504 contract. The futures market continued to rise, and some traders in the market maintained a sentiment to stand firm on quotes. Spot premiums were basically flat compared to yesterday's levels, but downstream buyers remained cautious due to high prices. Spot inquiries and purchases were still moderate, and market transactions continued to perform poorly.