[Guangdong Zinc: Futures Market Declines, Spot Premiums Rise] The mainstream transaction price of 0# zinc in Guangdong ranged from 22,880 to 23,115 yuan/mt. Mainstream brands were quoted at a premium of 480 yuan/mt against the 2506 contract and at a premium of 30 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread narrowed...

[Tianjin Zinc: Weak Buying Sentiment in Downstream, Premium Continues to Decline] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 23,010-23,140 yuan/mt, with Zijin transactions at 23,080-23,190 yuan/mt, and #1 zinc ingot transactions at around 22,660-22,730 yuan/mt. Huludao reported prices at 26,330 yuan/mt. The premium for ordinary #0 zinc against the 2505 contract was reported at around 230-300 yuan/mt, and against the 2505 contract at around 300-350 yuan/mt. The Tianjin market reported a premium of around 60 yuan/mt against the Shanghai market, with the price spread between Tianjin and Shanghai narrowing.

[Shanghai Zinc: Downstream Inventory Replenishment Nearly Complete, Premiums Remain Stable]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,925-23,030 yuan/mt, with Shuangyan zinc trading at 23,125-23,190 yuan/mt, and 1# zinc trading at 22,855-22,960 yuan/mt. In the morning session, the market offered premiums of 0-10 yuan/mt against the average price, with fewer quotes against the futures price...

[Ningbo Zinc: Limited Market Supply, Spot Premiums Remain High] The transaction prices for mainstream brand 0# zinc in the Ningbo market were around 22,985-23,040 yuan/mt. The mainstream brands in Ningbo were quoted at a premium of 195 yuan/mt against the 2505 contract, and at a premium of 30 yuan/mt against Shanghai spot cargo. Mainstream players in the Ningbo region were quoting against the 2505 contract...

[SMM Morning Comment on Zinc: Awaiting Further Macro Guidance, SHFE Zinc Fluctuates] Overnight, the most-traded SHFE zinc 2506 contract opened at 22,520 yuan/mt. In the early session, SHFE zinc briefly rose, reaching a high of 22,560 yuan/mt. Subsequently, bulls exited the market, causing SHFE zinc to decline and touch a low of 22,465 yuan/mt. It then fluctuated around the daily average line, with fluctuations of less than 100 yuan. The contract eventually closed higher at 22,530 yuan/mt, up 10 yuan/mt or 0.04%. Trading volume decreased to 42,847 lots, while open interest fell by 465 lots to 117,000 lots.

[SMM Morning Zinc Meeting Summary: US Dollar Weakens, LME Zinc Rises Slightly]: Overnight, LME zinc opened at $2,649/mt. Early in the session, LME zinc quickly dropped to $2,625.5/mt. Subsequently, as bulls increased their positions, LME zinc fluctuated upward, reaching a high of $2,657.5/mt during the night session. However, the upward momentum was insufficient, and LME zinc fluctuated downward throughout the session, eventually oscillating near the daily average line towards the close. It closed up at $2,654/mt, gaining $8.5/mt, or 0.32%. Trading volume decreased to 7,562 lots, while open interest increased by 2,089 lots to 207,000 lots.

["[Imported Zinc Ingot Inflow, SHFE Zinc Maintains Fluctuating Trend]: The most-traded SHFE zinc 2506 contract opened at 22,545 yuan/mt. In early trading, SHFE zinc fluctuated to a high of 22,555 yuan/mt, then slightly declined to a low of 22,380 yuan/mt. Subsequently, SHFE zinc rebounded from the low level to near the daily average line, eventually closing down at 22,520 yuan/mt, down 30 yuan/mt or 0.13%..."]

The following table shows the ferrous and nonferrous metals movement on the SHFE and DCE on 28 Apr, 2025