Shanghai Zinc: Spot cargo transactions were weak, while premiums remained stable [SMM Midday Review]

SMM News on May 25: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,590-22,735 yuan/mt, with Shuangyan trading at 22,790-22,935 yuan/mt, and #1 zinc trading mainly at 22,520-22,665 yuan/mt. In the morning session, the market was quoted at premiums of 40-60 yuan/mt against the average price, with no quotes against the futures market. In the second trading session, the quotes for ordinary domestic zinc were at premiums of 250-260 yuan/mt against the 2506 contract, SMC was quoted at a premium of 230 yuan/mt against the 2506 contract, and the high-end brand Shuangyan was quoted at a premium of 450 yuan/mt against the 2506 contract. Although the futures market saw a slight decline today, it had not yet met the downstream's psychological expectations. Enterprises did not engage in much pricing at low points, and traders faced difficulties in selling, resulting in poor spot transactions. Overall, premiums remained stable.