Shanghai Zinc: Futures market fluctuates, spot premiums hold steady [SMM Midday Review]

SMM reported on May 16: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,765-22,910 yuan/mt, with Shuangyan trading at 23,015-23,140 yuan/mt, and 1# zinc trading mainly at 22,695-22,840 yuan/mt. In the morning session, the market quoted premiums of 20-50 yuan/mt against the average price, with no quotes against the futures market. In the second trading session, quotations for ordinary domestic zinc were at premiums of 250-270 yuan/mt against the 2506 contract, Honglu-v was quoted at a premium of 260 yuan/mt against the 2506 contract, the high-end brand Shuangyan was quoted at a premium of 500 yuan/mt against the 2506 contract, SMC was quoted at a premium of 260 yuan/mt against the 2506 contract, and Hazin was quoted at a premium of 180 yuan/mt against the 2506 contract. The futures market continued to fluctuate, with traders maintaining stable spot premium quotations. Downstream buyers still maintained their rigid demand, and their buying sentiment was not high today, resulting in slightly sluggish overall spot trades.