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

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.