Shanghai Zinc: Futures Market Weakens Slightly, Downstream Restocks at Lower Prices [SMM Midday Review]

SMM News on May 19: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,650 to 22,785 yuan/mt, with Shuangyan zinc trading at 22,940 to 23,075 yuan/mt, and 1# zinc trading mainly at 22,580 to 22,715 yuan/mt. In the morning session, the market quoted premiums of 40 to 60 yuan/mt against the average price, with no quotes against the futures market. In the second trading session, the quotations for ordinary domestic zinc were at premiums of 270 to 280 yuan/mt against the 2506 contract, while the high-end brand Shuangyan was quoted at premiums of 570 to 580 yuan/mt against the 2506 contract, and SMC was quoted at a premium of 280 yuan/mt against the 2506 contract. In the morning session, zinc prices on the futures market declined slightly, and downstream enterprises restocked and purchased at lower prices. Some traders reported that spot cargo transactions were moderate today, with spot premiums remaining stable.