[Tianjin Zinc: Futures Market Rebounds, Overall Trading Volume Remains Low] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,790-22,930 yuan/mt, with Zijin transactions at 22,840-22,980 yuan/mt. Transactions for #1 zinc ingot were concluded around 22,470-22,590 yuan/mt, while Huludao reported prices at 26,190 yuan/mt. The premium for ordinary #0 zinc against the 2506 contract was reported around 200-230 yuan/mt, with Zijin reporting a premium of 250-280 yuan/mt against the 2506 contract. The Tianjin market reported a premium of approximately 10 yuan/mt against the Shanghai market.

[Guangdong Zinc: Strong sentiment to refuse to budge on prices in the morning market, with spot premiums/discounts continuing to rise] The mainstream transactions of 0# zinc in Guangdong were concluded at 22,790-22,965 yuan/mt. Mainstream brands were quoted at a premium of 445 yuan/mt against the 2507 contract, and at a premium of 30 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread narrowed...

[Shanghai Zinc: Sluggish Spot Trades, Premiums Adjusted Down MoM]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,865-22,970 yuan/mt, with Shuangyan trading at 23,015-23,150 yuan/mt, and 1# zinc trading mainly at 22,795-22,900 yuan/mt. In the morning session, the market quoted premiums of 60-80 yuan/mt against the average price for cargoes with invoices dated next month, with no quotes against the futures market...

[Ningbo Zinc: Traders Continue to Refuse to Budge on Prices, Premiums Remain] The transaction prices of mainstream brand 0# zinc in the Ningbo market were around 22,875-22,980 yuan/mt. The quotes for mainstream brands in Ningbo against the 2506 contract were at a premium of 270 yuan/mt, and against Shanghai spot cargo were at a premium of 90 yuan/mt. Mainstream quotes in the Ningbo region were made against the 2506 contract...

Overnight, LME copper opened at $9,583.0/mt, touching a low of $9,571.0/mt at the beginning of the session.

[Interpretation of Zinc Oxide Import and Export in April and Outlook for the Future Market] According to the latest statistics from the General Administration of Customs, China's zinc oxide exports reached 1,244.15 mt in April 2025, down slightly by 2.82% MoM, but with a significant YoY increase, up 13.45% YoY. From a cumulative perspective, China's cumulative zinc oxide exports from January to April 2025 reached 4,709.87 mt, with the YoY increase expanding to 28.22%. On the import side, zinc oxide imports in April were 488.12 mt, down 1.46% MoM, with a YoY decline of 20.40%. The cumulative imports from January to April were 1,909.67 mt, down 12.96% YoY. The contraction in import volume was mainly influenced by the loose supply situation in the domestic zinc oxide market, with the support of domestic capacity for domestic demand significantly strengthening. ...

[SMM Zinc Morning Comment] Overnight, the most-traded SHFE zinc 2507 contract opened at 22,380 yuan/mt. In the early session, SHFE zinc rapidly climbed to a high of 22,485 yuan/mt amid mixed long and short positions. The price center of SHFE zinc pulled back to near the daily average line, dipping to a low of 22,355 yuan/mt during the session. It eventually closed higher at 22,410 yuan/mt, up 80 yuan/mt or 0.36%. Trading volume decreased to 66,848 lots, while open interest fell by 216 lots to 121,000 lots.

[SMM Morning Meeting Summary: US Dollar Strengthens, LME Zinc Center Moves Lower] Overnight, LME zinc opened at $2,730/mt. In the early session, LME zinc briefly rose, reaching a high of $2,738.5/mt. Subsequently, bulls reduced their positions, causing LME zinc to dive lower, hitting a low of $2,683/mt during European trading hours. The center then moved higher, oscillating near the daily average line, and finally closed lower at $2,709/mt, down $3/mt or 0.16%. Trading volume increased to 9,583 lots, while open interest decreased by 887 lots to 210,000 lots.

[SHFE Zinc's Price Center Corrects as Refinery Maintenance News is Largely Absorbed] The most-traded SHFE zinc 2507 contract opened at 22,610 yuan/mt. Bulls reduced their positions in the early session, causing SHFE zinc to dive lower. It then consolidated near 22,300 yuan/mt, dipping to a low of 22,175 yuan/mt during the session. The contract eventually closed higher at 22,330 yuan/mt, up 145 yuan/mt or 0.65%. Trading volume increased to 343,000 lots, while open interest rose by 3,048 lots to 122,000 lots.

On June 12-13, 2025, the 2025 SMM 2nd Global Secondary Metal Industry Chain Summit Forum, hosted by SMM and co-sponsored by leading domestic and overseas secondary metal enterprises, will be grandly held at the Hyatt Regency Bangkok Suvarnabhumi in Thailand!