Shanghai Zinc: Futures Market Rose First Then Fell, Premium Continued to Rise [SMM Midday Review]

SMM April 23 News: Today, the mainstream transaction prices of #0 zinc were concentrated at 22,815~23,040 yuan/mt, while Shuangyan had no transaction prices. The mainstream transaction prices of #1 zinc were at 22,745~22,970 yuan/mt. In the morning session, the market quoted premiums of 50~60 yuan/mt against the average price, with fewer quotes against the futures market. In the second trading session, ordinary domestic brands were quoted at premiums of 220~230 yuan/mt against the 2505 contract, while Huize was quoted at a premium of 330 yuan/mt against the 2505 contract. The high-priced brand Shuangyan had no quotes. At the end of the long-term contract period, the zinc ingot inventory in the Shanghai market remained low, and traders continued to stand firm on quotes. Spot premiums continued to rise, and the futures market first rose and then fell, with the overall price center moving upward. Downstream purchase willingness was weak, and transaction performance was average.