Shanghai Zinc: Premiums Remain Stable, Trading Deteriorates [SMM Midday Review]

SMM April 1: Today, the mainstream transaction prices of 0# zinc were concentrated at 23,480~23,675 yuan/mt, with Shuangyan transactions at 23,520~23,725 yuan/mt, and 1# zinc mainstream transactions at 23,410~23,605 yuan/mt. In the morning session, market quotations were at premiums of 10~20 yuan/mt against the average price, with fewer quotations against the futures market. In the second trading session, ordinary domestic quotations were at premiums of 30~50 yuan/mt against the 2505 contract, Baiyin was quoted at a premium of 30 yuan/mt against the 2504 contract, Huize was quoted at a premium of 100 yuan/mt against the 2505 contract, and the high-priced brand Shuangyan was quoted at premiums of 70~100 yuan/mt against the 2505 contract. The futures market rebounded slightly this morning, with downstream purchases from yesterday's price fixing being relatively high, while today's purchase inquiries were limited. Spot transactions were worse MoM, with overall premiums basically flat compared to yesterday. Some traders, who had higher sales yesterday, focused on purchasing today, with overall trading still dominated by inter-trader activities.