Shanghai Zinc: Increased Market Shipments, Premiums Drop Significantly [SMM Midday Review]

SMM News on June 6: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,615-22,820 yuan/mt, with Shuangyan zinc trading at 22,545-22,750 yuan/mt, and 1# zinc trading mainly at 22,545-22,750 yuan/mt. In the morning session, the market quoted premiums of 70-100 yuan/mt against the average price, with no quotes against the spot price. During the second trading session, quotations for ordinary domestic zinc were at premiums of 380-420 yuan/mt against the 2507 contract, while Baiyin zinc was quoted at a premium of 260 yuan/mt against the 2506 contract, Huize zinc at a premium of 400 yuan/mt against the 2507 contract, and the high-end brand Shuangyan zinc was quoted at a premium of 500 yuan/mt against the 2507 contract. Today, the number of traders selling in the Shanghai market increased, and the near-month price spread also narrowed significantly. Traders actively sold and lowered their spot premiums, but downstream enterprises still maintained their just-in-time demand, with overall transactions still dominated by trades between traders.