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

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.