[Guangdong Zinc: Downstream Procurement Enthusiasm Pulls Back, Market Trading Atmosphere Weakens] The mainstream transactions of 0# zinc in Guangdong ranged from 22,600 to 22,745 yuan/mt. Mainstream brands were quoted at a premium of 355 yuan/mt against the 2507 contract, and at a spot discount of 30 yuan/mt against Shanghai spot cargo. The Shanghai-Guangdong price spread narrowed....

[Tianjin Zinc: Trading Dominated by Traders, Premiums Remain Stable] In the Tianjin market, the mainstream transactions for #0 zinc ingot were concluded at 22,580-22,800 yuan/mt, with Zijin transactions at 22,640-22,810 yuan/mt. Transactions for #1 zinc ingot were concluded around 22,270-22,420 yuan/mt, while Huludao reported prices at 26,010 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported around 200-270 yuan/mt, and the premium for Zijin against the 2506 contract was reported around 250-280 yuan/mt. The Tianjin market was quoted at a discount of approximately 10 yuan/mt compared to the Shanghai market.

[Shanghai Zinc: Downstream Just-in-Time Procurement, Premium Remains Stable]: Today, the mainstream transaction prices of 0# zinc were concentrated in the range of 22,635-22,795 yuan/mt, with Shuangyan zinc trading at 22,865-23,105 yuan/mt, and 1# zinc trading mainly at 22,565-22,725 yuan/mt. In the morning session, the market offered a premium of 30-50 yuan/mt against the average price, with no quotes against the spot price...

[Ningbo Zinc: Traders' Quotations Remain Low, Premiums Stay High] The transaction prices for mainstream brand 0# zinc in the Ningbo market were around 22,685-22,785 yuan/mt. The premium for mainstream brands in Ningbo against the 2506 contract was 260 yuan/mt, and the premium against Shanghai spot cargo was 60 yuan/mt. Mainstream traders in the Ningbo region were quoting against the 2506 contract...

Overnight, LME copper opened at $9,542.5/mt, rose initially and peaked at $9,567/mt, then fluctuated downward throughout the session, dipping to a low of $9,487/mt near the close, and finally closed at $9,487/mt, down 0.71%.

[SMM Zinc Morning Comment] Overnight, LME zinc opened at $2,724/mt. In the early session, LME zinc edged down slightly. As European trading hours approached, LME zinc recovered its losses and climbed to a high of $2,737/mt. However, as bulls reduced their positions, LME zinc plunged below the daily average line, dipping to a low of $2,680/mt. It eventually closed at $2,684.5/mt, down $40/mt or 1.47%. Trading volume decreased to 80,411 lots, while open interest fell by 4,611 lots to 213,000 lots...

[SMM Morning Meeting Summary: Macro and Fundamentals Resonate, LME Zinc Price Center Pulls Back] Overnight, LME zinc opened at $2,724/mt. Early in the session, LME zinc edged slightly lower. As European trading hours approached, LME zinc recovered its losses and climbed to a high of $2,737/mt. However, as bulls reduced their positions, LME zinc plunged below the daily average line, dipping to a low of $2,680/mt. It eventually closed at $2,684.5/mt, down $40/mt or 1.47%. Trading volume decreased to 80,411 lots, while open interest fell by 4,611 lots to 213,000 lots.

[Fundamentals Unchanged, SHFE Zinc Fluctuates Rangebound]: The most-traded SHFE zinc 2507 contract opened at 22,460 yuan/mt. In early trading, SHFE zinc reached a high of 22,470 yuan/mt, then dropped back slightly to a low of 22,325 yuan/mt. During the daytime session, SHFE zinc fluctuated rangebound around the daily average line, eventually closing down at 22,410 yuan/mt, a decline of 35 yuan/mt or 0.16%...