Shanghai Zinc: Futures Market Rebounds from Lows, Trading Remains Sluggish [SMM Midday Review]

SMM April 17 News: Today, the mainstream transaction prices of #0 zinc were concentrated at 22,320~22,575 yuan/mt, while Shuangyan traded at 22,390~22,655 yuan/mt, and #1 zinc mainstream transactions were at 22,250~22,505 yuan/mt. In the morning session, the market quoted at parity with the average price, with no quotations against the futures market. In the second trading session, ordinary domestic quotations were at premiums of 170~190 yuan/mt against the 2505 contract, Huize quotations were at premiums of 200~240 yuan/mt against the 2505 contract, and the high-priced brand Shuangyan was quoted at premiums of 240~270 yuan/mt against the 2505 contract. In the morning, the futures market rebounded from low levels, and market inquiries and transactions gradually weakened. Traders continued to lower today's spot premiums to facilitate sales, but downstream companies still made just-in-time procurement, and spot transactions were average. It is expected that with the outflow of delivery zinc ingots, subsequent spot premiums will continue to decline.