[Tianjin Zinc: Futures Market Pulls Back, Downstream Procurement Sentiment Remains Low] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at RMB 22,720-22,940/mt, with Zijin transactions at RMB 22,820-22,990/mt. Transactions for #1 zinc ingot were around RMB 22,400-22,670/mt, while Huludao reported prices at RMB 26,130/mt. Regular #0 zinc ingot was quoted at a premium of RMB 200-300/mt against the 2506 contract, with Zijin quoted at a premium of RMB 300-350/mt against the 2506 contract. The Tianjin market was quoted on par with the Shanghai market.

[Guangdong Zinc: Contract rollover quotes in Guangdong today show an increase in spot premiums] The mainstream transaction price of 0# zinc in Guangdong ranged from 22,640 to 22,700 yuan/mt. Mainstream brands were quoted at a premium of 305 yuan/mt against the 2507 contract, and at a discount of 40 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread widened....

[Ningbo Zinc: Few Trading Companies Shipping Cargo, Both Trading Volume and Liquidity Are Low] The transaction price of mainstream brand 0# zinc in the Ningbo market was around 22,775-22,900 yuan/mt. The premium of mainstream brands in Ningbo against the 2506 contract was 265 yuan/mt, and the premium against Shanghai spot cargo was 40 yuan/mt. Mainstream players in the Ningbo region quoted prices against the 2506 contract...

Overnight, LME copper opened at $9,527.5/mt. Prices fluctuated at the beginning of the session, dipping to a low of $9,511.0/mt during the session, before fluctuating upward.

[SMM Zinc Morning Comment] Overnight, LME zinc stopped rising and started to fall, with the 60-day daily average acting as resistance above and the 40-day daily average providing support below. The growth rate of US retail sales in April slowed down, and the monthly PPI rate unexpectedly declined, indicating weak economic data. In the earlier period...

[SMM Morning Meeting Summary: Both Macro and Fundamentals Are Weak, Center of Zinc Price Moves Down] Overnight, SHFE zinc recorded a small bullish candlestick, yet the center of the daily candlestick moved down, and the KDJ opening narrowed. Due to the inflow of imported zinc ingots, as well as the impact of high zinc prices and the off-season, downstream enterprises were cautious about purchasing at high prices, leading to an accumulation of social inventory. Meanwhile, ...

SMM Analysis:The "Golden March, Silver April" period typically marks the traditional consumption season for galvanized sheet. However, this year, the Sino-US trade conflict has reignited, with tariff changes affecting market sentiment and causing renewed disruptions in export orders.....

[SMM Analysis: How Did the Domestic Galvanized Sheet Market Perform During the "Golden March, Silver April" Period Amidst Traditional Peak Season + Tariff Disruptions?] The "Golden March, Silver April" period is traditionally a peak consumption season for galvanized sheets. However, this year, Sino-US trade conflicts have flared up again, with tariff changes affecting market sentiment and export orders facing renewed turbulence. Amidst the collision of multiple factors, according to SMM statistics, the operating rates of galvanized sheet production remained relatively high in March and April this year, showing no significant pullback on a YoY basis. What were the specifics...

[Imports of zinc ingots arrived during the week, leading to an increase in domestic social inventory] According to SMM's communication and understanding, as of Thursday (May 15) this week, the total zinc ingot inventory across seven locations tracked by SMM was 86,300 mt, an increase of 3,000 mt from May 8 and an increase of 800 mt from May 12, with domestic inventory recording an increase...