Shanghai Zinc: Downstream Enterprises Fear High Prices, Trading Performance is Poor [SMM Midday Review]

SMM, June 4: Today, mainstream transaction prices for 0# zinc were concentrated in the range of 22,960 to 23,105 yuan/mt, with no transactions reported for Shuangyan. #1 zinc was mainly traded at 22,890 to 23,035 yuan/mt. In the morning session, the market was quoted at premiums of 120 to 150 yuan/mt against the average price, with no quotes against the market price. During the second trading session, quotations for ordinary domestic zinc ingot were at premiums of 640 to 660 yuan/mt against the 2507 contract, Honglu-v was quoted at a premium of 280 yuan/mt against the 2506 contract, Baiyin was quoted at a premium of 280 yuan/mt against the 2506 contract, and Huize was quoted at a premium of 630 yuan/mt against the 2507 contract. No quotations were reported for the high-end brand Shuangyan. The supply of domestic zinc ingot in the market remained limited, with traders' spot quotations continuing to rise above the average price. Spot premiums remained high, and downstream buyers were cautious in purchasing due to high prices, resulting in continued poor spot transactions.