Shanghai Zinc: Premiums Remain Unchanged, Market Sentiment Subdued [SMM Midday Review]

Published: Mar 26, 2025 11:45

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Shanghai Zinc: Premiums Remain Unchanged, Market Sentiment Subdued. Today, the mainstream transaction prices of 0# zinc were concentrated at 24,080-24,250 yuan/mt, Shuangyan traded at 24,120-24,290 yuan/mt, and 1# zinc mainstream transactions were at 24,010-24,180 yuan/mt. In the morning session, the market quoted premiums of 0-20 yuan/mt against the average price, with few offers against the futures price.

SMM March 26 News: Today, the mainstream transaction prices of #0 zinc were concentrated at 24,080-24,250 yuan/mt, with Shuangyan transactions at 24,120-24,290 yuan/mt, and #1 zinc mainstream transactions at 24,010-24,180 yuan/mt. In the morning session, market quotations were at premiums of 0-20 yuan/mt against the average price, with fewer quotations against the futures market. In the second trading session, ordinary domestic quotations were at discounts of 10 yuan/mt to premiums of 10 yuan/mt against the 2504 contract, Baiyin was quoted at parity against the 2504 contract, and the high-priced brand Shuangyan was quoted at premiums of 30-50 yuan/mt against the 2504 contract. The futures market continued to fluctuate, with downstream purchasing as needed. Today's inquiries and purchases remained average. Although some traders were unwilling to sell at low prices and stood firm on quotes, the poor transaction performance led to insufficient upward momentum for spot premiums, and the overall market sentiment remained low with no improvement.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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