Shanghai Zinc: Premiums Remain Stable, Trading Performance Lacks Strength [SMM Midday Review]

SMM March 21 News: The mainstream transaction prices of 0# zinc today were concentrated at 23,795~23,940 yuan/mt, with Shuangyan trading at 23,855~23,990 yuan/mt, and 1# zinc mainly traded at 23,725~23,870 yuan/mt. In the morning session, market quotations against the average price were at premiums of 0~10 yuan/mt, with fewer quotations against the futures. In the second trading period, ordinary domestic brands were quoted at premiums of 0~10 yuan/mt against the 2504 contract, while Baiyin was quoted at a premium of 20 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 a premium of 60 yuan/mt against the 2504 contract. The futures market rose compared to yesterday. Downstream buyers who had previously fixed prices and held some inventory showed low interest in purchasing today, and there were more traders selling, resulting in overall premiums remaining weak, and spot transactions also performed slightly poorly.