Shanghai Zinc: Inquiries and Purchases Are Moderate, Spot Premiums Decline [SMM Midday Review]

SMM March 14 News: Today, mainstream transaction prices for 0# zinc were concentrated at 24,125-24,265 yuan/mt, with Shuangyan trading at 24,205-24,325 yuan/mt, and mainstream transaction prices for 1# zinc at 24,055-24,195 yuan/mt. In the early trading session, market quotations were at premiums of 0-20 yuan/mt against the average price, with fewer quotations against futures. During the second trading session, ordinary domestic zinc was quoted at discounts of 10 yuan/mt to premiums of 10 yuan/mt against the 2504 contract, silver zinc at a discount of 10 yuan/mt against the 2504 contract, Huize zinc at a premium of 60 yuan/mt against the 2504 contract, and high-priced brand Shuangyan at a premium of 70 yuan/mt against the 2504 contract. The morning futures market continued to rise, while downstream inquiries and purchases remained moderate. Some traders further lowered their spot zinc quotations to facilitate sales, and overall transactions remained sluggish.