Shanghai Zinc: Premiums in the Futures Market Declined, Some Traders Saw Improved Transactions [SMM Midday Review]

SMM April 16 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 22,470~22,735 yuan/mt, with Shuangyan transactions at 22,550~22,815 yuan/mt, and 1# zinc mainstream transactions at 22,400~22,665 yuan/mt. In the morning session, the market quoted premiums of 20 yuan/mt against the average price, with fewer quotes against the futures market. In the second trading session, ordinary domestic brands were quoted at premiums of 180~220 yuan/mt against the 2505 contract, Honglu-v at 230 yuan/mt against the 2505 contract, Baiyin at 240 yuan/mt against the 2505 contract, Huize at 240~260 yuan/mt against the 2505 contract, and the high-priced brand Shuangyan at 260~300 yuan/mt against the 2505 contract. The delivery of the SHFE zinc 2504 contract was completed, and market traders, anticipating a continued decline in premiums, actively sold off. Today, the spot premiums in Shanghai continued to decline, and the futures market also fell in the morning. Some companies took advantage of this to purchase at fixed prices, leading to an improvement in spot premiums for some traders.