Shanghai Zinc: Downstream Purchase Willingness Remains Low, Shanghai Premium Continues to Decline [SMM Midday Review]

SMM April 18th News: Today, the mainstream transaction prices of 0# zinc were concentrated at 22,410~22,510 yuan/mt, with Shuangyan transactions at 22,500~22,580 yuan/mt, and the mainstream transactions of 1# zinc at 22,340~22,440 yuan/mt. In the morning session, the market quoted at premiums of 0~10 yuan/mt against the average price, with no quotations against the futures market. In the second trading session, ordinary domestic products were quoted at premiums of 150~170 yuan/mt against the 2505 contract, Huize at a premium of 200 yuan/mt against the 2505 contract, and the high-priced brand Shuangyan at a premium of 240 yuan/mt against the 2505 contract. Zinc prices in the futures market fluctuated, and downstream players, having stocked up at low prices in previous days, had certain inventory. Today, inquiries and purchases were sluggish, and traders continued to lower spot premiums to sell goods. Overall, transactions were poor, and attention is focused on downstream stockpiling before the May Day holiday next week.