Shanghai Zinc:The futures market saw a significant decline, while transactions improved MoM [SMM Midday Review]

SMM March 18 News: Today, the mainstream transaction prices of #0 zinc were concentrated at 23,800-24,110 yuan/mt, with Shuangyan trading at 23,860-24,150 yuan/mt, and the mainstream transaction prices of #1 zinc at 23,730-24,040 yuan/mt. In the early trading session, the market quoted spot premiums of 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, silver zinc at premiums of 10 yuan/mt against the 2504 contract, Huize zinc at premiums of 60 yuan/mt against the 2504 contract, and the high-priced brand Shuangyan at premiums of 60 yuan/mt against the 2504 contract. The overall futures market showed a significant decline in the morning, with traders actively selling and enterprises making numerous inquiries. Spot premiums remained firm, and downstream enterprises made purchases at lower price points. Overall, spot transactions were moderate; however, some traders reported that certain downstream buyers continued to hold a bearish outlook and maintained a degree of caution.