Shanghai Zinc: Few traders are shipping goods, and trading remains sluggish [SMM Midday Review]

SMM News on June 3: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,710 to 23,100 yuan/mt, with Shuangyan zinc trading at 22,810 to 23,130 yuan/mt, and 1# zinc trading mainly at 22,640 to 23,030 yuan/mt. In the morning session, the market was quoted at premiums of 100 yuan/mt against the average price, with no quotes against the market. In the second trading session, quotations for ordinary domestic zinc were at premiums of 270 yuan/mt against the 2506 contract, Spanish zinc at premiums of 150 yuan/mt against the 2506 contract, Huize zinc at premiums of 300 yuan/mt against the 2506 contract, and the high-end brand Shuangyan was quoted at premiums of 300 yuan/mt against the 2506 contract. On the first trading day after the holiday, the zinc ingot inventory in the Shanghai market was limited, and traders' spot cargo quotations rose further above the average price. However, due to poor order volumes from downstream enterprises, purchase willingness was low today, resulting in weak spot cargo transaction performance. Market transactions were still dominated by traders.