Shanghai Zinc: Sentiment Remains Low, No Improvement in Transactions [SMM Midday Review]

SMM March 27 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 24,075~24,170 yuan/mt, with Shuangyan transactions at 24,125~24,200 yuan/mt, and the mainstream transactions of 1# zinc at 24,005~24,100 yuan/mt. In the morning session, the market quoted premiums of 0~10 yuan/mt against the average price, with fewer quotes against the futures market. In the second trading session, ordinary domestic products were quoted at discounts of 10~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 40 yuan/mt against the 2504 contract. Entering the new long-term contract cycle, there were many suppliers in the market, and the futures market remained firm. Today, downstream purchase willingness remained low, and spot transactions by suppliers were poor, with spot premiums also showing no improvement.