Shanghai Zinc: Traders Stand Firm on Quotes, No Improvement in Transactions [SMM Midday Review]

SMM March 17 News: Today, the mainstream transaction prices of #0 zinc were concentrated at 24,120-24,255 yuan/mt, with Shuangyan trading at 24,160-24,295 yuan/mt, and the mainstream transaction prices of #1 zinc at 24,050-24,185 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 premiums of 0-20 yuan/mt against the 2504 contract, Baiyin at a premium of 10 yuan/mt against the 2504 contract, Huize at a premium of 50 yuan/mt against the 2504 contract, and the high-priced brand Shuangyan at premiums of 40-50 yuan/mt against the 2504 contract. Zinc prices in the futures market remained high, and today marked the last day for delivery. Market traders showed low willingness to sell at lower prices and stood firm on quotes for spot zinc. Shanghai premiums saw a slight increase today; however, downstream buyers continued purchasing as needed, and overall market transactions remained average.