Shanghai Zinc: Limited Market Supply, Spot Zinc Trading Moderate [SMM Midday Review]

Published: Apr 21, 2025 11:46

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Shanghai Zinc: Limited Market Supply, Spot Transactions Were Moderate. Today, the mainstream transaction prices of #0 zinc were concentrated at 22,500-22,620 yuan/mt, Shuangyan traded at 22,590-22,710 yuan/mt, and #1 zinc mainstream transactions were at 22,430-22,550 yuan/mt. In the morning session, the market quoted a premium of 0-10 yuan/mt against the average price, with few offers against the contract.

SMM April 21: Today, the mainstream transaction prices of #0 zinc were concentrated at 22,500~22,620 yuan/mt, while Shuangyan traded at 22,590~22,710 yuan/mt, and #1 zinc mainstream transactions were at 22,430~22,550 yuan/mt. In the morning session, the market quoted premiums of 0~10 yuan/mt against the average price, with fewer quotes against the futures market. In the second trading session, ordinary domestic products were quoted at premiums of 150 yuan/mt against the 2505 contract, Huize at premiums of 200 yuan/mt against the 2505 contract, and the high-priced brand Shuangyan at premiums of 240 yuan/mt against the 2505 contract. Approaching the end of the long-term contract, there were not many traders selling in the Shanghai market today. However, downstream buyers had accumulated some inventory from last week's low-price purchases. Today, the futures market fluctuated, with buyers mainly maintaining rigid demand purchases. Overall, spot cargo transactions showed no improvement, and the monthly premiums continued to decline.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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