[Zinc Ingot Inventory Records Slight Decline, SHFE Zinc Maintains Fluctuating Trend]: The most-traded SHFE zinc 2507 contract opened at 22,030 yuan/mt. After the opening, SHFE zinc weakened slightly, dipping to 21,965 yuan/mt, before fluctuating upward all the way. It reached a high of 22,130 yuan/mt during the midday session. Subsequently, SHFE zinc pulled back again to near the daily average line, eventually closing up at 22,085 yuan/mt, up 85 yuan/mt or 0.39%. Trading volume increased to 70,108 lots, while open interest decreased by 4,464 lots to 121,000 lots...

[Guangdong Zinc: Futures Market Maintains Fluctuating Trend, Spot Cargo Trading Atmosphere Remains Relatively Mediocre] The mainstream transactions of 0# zinc in Guangdong ranged from 22,235 to 22,400 yuan/mt. Mainstream brands were quoted at a premium of 280 yuan/mt against the 2507 contract, and at a premium of 20 yuan/mt against spot cargo in Shanghai. The Shanghai-Guangdong price spread widened...

[Ningbo Zinc: Kylin Arrives in Ningbo, Downstream Just-in-Time Procurement] The transaction price of mainstream brand 0# zinc in the Ningbo market is around 22,265-22,330 yuan/mt. The mainstream brands in Ningbo are quoted at a premium of 300 yuan/mt against the 2507 contract, and at a premium of 40 yuan/mt against spot cargo in Shanghai. Mainstream quotes in the Ningbo region are against the 2507 contract...

[Shanghai Zinc: Futures Market Fluctuates, Premiums Continue to Decline]: Today, the mainstream transaction prices for 0# zinc were concentrated in the range of 22,285-22,420 yuan/mt, with Shuangyan trading at 22,325-22,490 yuan/mt, and 1# zinc mainly trading at 22,215-22,350 yuan/mt. In the morning session, the market offered premiums of 50-60 yuan/mt against the average price, with no quotes against futures prices...

[Tianjin Zinc: Futures Market Dominated by Volatility, Premiums Remain Stable] In the Tianjin market, mainstream transactions for #0 zinc ingot were concluded at 22,190-22,390 yuan/mt, with Zijin transactions at 22,270-22,420 yuan/mt. Transactions for #1 zinc ingot were around 21,850-21,980 yuan/mt, while Huludao reported prices at 25,670 yuan/mt. The premium for ordinary #0 zinc against the 2507 contract was around 180-300 yuan/mt, with Zijin reporting a premium of 300-330 yuan/mt against the 2507 contract. Tianjin reported a discount of around 30 yuan/mt compared to the Shanghai market.

[SMM Zinc Morning Comment] Overnight, LME zinc recorded a bearish candlestick with a long upper shadow, with the 5/40-day moving averages acting as resistance. Although the overnight US CPI data fell short of expectations across the board, raising market expectations for an interest rate cut, but...

[SMM Morning Meeting Summary: SHFE Zinc Closed with a Bearish Candlestick Overnight; Focus on Inventory Performance Today] SHFE zinc closed with a bearish candlestick overnight, with the 10/40-day moving averages acting as resistance above. Overnight, zinc prices maintained sideways movement, with a tug-of-war between longs and shorts in macro sentiment. On the fundamentals side, supply-side pressure increased, with imported zinc still arriving, and downstream...

[SHFE Zinc Halts Decline During Daytime Session, Limited Upside Expected]: The most-traded SHFE zinc 2507 contract opened at 21,925 yuan/mt. Early in the session, SHFE zinc dipped to 21,885 yuan/mt, then fluctuated upward, reaching a high of 22,205 yuan/mt near the close. It ultimately closed up at 22,140 yuan/mt, gaining 215 yuan/mt, or 0.98%. Trading volume increased to 118,000 lots, while open interest decreased by 7,261 lots to 126,000 lots...

SMM Analysis：As of June 6, 2025, the SMM weekly domestic zinc concentrate TC rose to 3,600 yuan/mt (metal content), and the SMM imported zinc ore index increased by $50.35/dmt, with overall processing fees continuing to rise compared to May. Behind the sustained high production of smelters, what factors are driving the increase in zinc concentrate TCs in June? Let's analyze this from the supply side.....

[SMM Analysis: Zinc Concentrate TCs Continue to Rise in June; What is the Current Situation of the Domestic Zinc Ore Market?] As of June 6, 2025, SMM's weekly domestic zinc concentrate TCs rose to 3,600 yuan/mt (metal content), and the SMM imported zinc ore index rose to $50.35/dmt, with overall TCs continuing to rise compared to May. Behind the sustained high production at smelters, why did zinc concentrate TCs rise in June? Let's analyze it from the supply side...