Shanghai Zinc: Many Traders on Holiday, Weak Transactions [SMM Midday Review]

SMM April 30 Report: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,880-23,005 yuan/mt, with Shuangyan zinc trading at 23,050-23,175 yuan/mt, and #1 zinc trading at 22,810-22,935 yuan/mt. In the morning session, the market was quoted at premiums of 20 yuan/mt against the average price, with almost no quotes against the futures market. In the second trading session, the quotations for ordinary domestic zinc were at premiums of 180 yuan/mt against the 2505 contract, Huize zinc was quoted at premiums of 350 yuan/mt against the 2505 contract, the high-end brand Shuangyan was quoted at premiums of 350 yuan/mt against the 2505 contract, and Hazhi zinc was quoted at premiums of 90-100 yuan/mt against the 2505 contract. On the last day before the Labour Day holiday, most traders began to take leave, with limited overall market supply. The futures market maintained a fluctuating trend, and downstream spot purchases were few, resulting in weak overall spot transaction performance.