Shanghai Zinc: Premiums Remain Stable, Downstream Demand Purchases [SMM Midday Review]

SMM News on May 20: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,660-22,745 yuan/mt, with Shuangyan zinc trading at 22,960-23,045 yuan/mt, and 1# zinc trading mainly at 22,590-22,675 yuan/mt. In the morning session, the market quoted spot premiums of 40-60 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 280 yuan/mt against the 2506 contract, while high-end brands like Shuangyan were quoted at premiums of 580 yuan/mt against the 2506 contract, and SMC was quoted at premiums of 280 yuan/mt against the 2506 contract. The futures market maintained a fluctuating trend. Downstream buyers continued to purchase as needed, with relatively ordinary trading performance. However, the market supply of zinc ingots was limited, and some traders still held a sentiment to refuse to budge on prices. Today, the spot premiums in Shanghai remained stable.