Shanghai Zinc: Some Traders Stand Firm on Quotes, Premiums Adjusted Upward [SMM Midday Review]

Published: Apr 22, 2025 11:57

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Shanghai Zinc: Some Traders Stood Firm on Quotes, Premiums Increased Slightly. Today, the mainstream transaction prices of 0# zinc were concentrated at 22,505-22,815 yuan/mt, while Shuangyan traded at 22,615-22,865 yuan/mt, and 1# zinc mainstream transactions were at 22,435-22,745 yuan/mt. In the morning session, the market quoted premiums of 20-50 yuan/mt against the average price, with fewer quotes against the futures contract.

SMM April 22 News: Today, the mainstream transaction prices of 0# zinc were concentrated at 22,505~22,815 yuan/mt, with Shuangyan transactions at 22,615~22,865 yuan/mt, and the mainstream transactions of 1# zinc at 22,435~22,745 yuan/mt. In the morning session, the market quoted premiums of 20~50 yuan/mt against the average price, with fewer quotes against the futures. In the second trading session, ordinary domestic products were quoted at premiums of 170~230 yuan/mt against the 2505 contract, Huize at a premium of 280 yuan/mt against the 2505 contract, and the high-priced brand Shuangyan at a premium of 280 yuan/mt against the 2505 contract. Recent news of smelter maintenance has caused some traders to worry about future zinc ingot supply, leading to a certain degree of reluctance to sell. Coupled with the limited number of traders shipping from Shanghai recently, some suppliers stood firm on quotes, resulting in a slight increase in spot premiums today, but spot transactions did not show significant improvement.

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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